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Consider the following statements regarding Anti-Dumping Duty.
1. An anti-dumping duty is a protectionist tariff that a domestic government imposes on imports that it believes are priced below fair market value.
2. In India, Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce & Industry conducts anti-dumping investigations.
Which of the above statements is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding Anti-Dumping Duty.1. An a...
An anti-dumping duty is a protectionist tariff that a domestic government imposes on imports that it believes are priced below fair market value. Dumping is a process wherein a company exports a product at a significantly lower price than the price it normally charges in its home (or its domestic) market.
Directorate General of Trade Remedies (DGTR) conducts anti-dumping investigations, under the Customs Tariff Act, 1975 and the rules made thereunder, based on a duly substantiated application filed by the domestic industry alleging dumping of goods into the country causing injury to the domestic industry. Anti-dumping measures' basic intent is to eliminate injury caused to the domestic industry by the unfair trade practice of dumping and to create a level playing field for the domestic industry.
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Consider the following statements regarding Anti-Dumping Duty.1. An anti-dumping duty is a protectionist tariff that a domestic government imposes on imports that it believes are priced below fair market value.2. In India, Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce & Industry conducts anti-dumping investigations.Which of the above statements is/are correct?a) 1 onlyb) 2 onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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