According to a latest update from the Central Board Of Indirect Taxes And Customs, new/Unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres), having nominal rim dia code above 16" used in buses and lorries/trucks (hereinafter referred to as the subject goods) falling under tariff heading 4011 20 10 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), originating in or exported from, People's Republic of China (hereinafter referred to as the subject country), and imported into India, the Designated Authority in its final findings, has come to the conclusion that imposition of definitive countervailing duty is required to offset subsidization and injury and has recommended the imposition of definitive countervailing duty on the imports of the subject goods from China PR.
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