UPSC Exam > UPSC Questions > Which of the following duties levied by the G...
Start Learning for Free
Which of the following duties levied by the Government of India are country-specific ?
1. Countervailing Duty
2. Anti-Dumping Duty
3. Safeguard Duty
Select the correct answer using the codes given below :
1. Countervailing Duty
2. Anti-Dumping Duty
3. Safeguard Duty
Select the correct answer using the codes given below :
- a)1 and 2 only
- b)1 and 3 only
- c)2 and 3 only
- d)1, 2 and 3
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Which of the following duties levied by the Government of India are co...
- Countervailing duty (CVD) is a specific duty that the government imposes to protect domestic producers by countering the negative impact of import subsidies. CVD is an import tax by the importing country on imported products, which is considered a country-specific duty. For example, export subsidies given by the Chinese government will make Chinese products low-priced in the Indian market. This will be a disadvantage for the competing Indian products. To overcome this situation, the government of India can impose a countervailing duty on Chinese imports. So, Statement 1 is correct.
- Dumping occurs when a country exports goods to another country at a price lower than its normal value. This is an unfair trade practice that can have a distortive effect on international trade. Antidumping is a measure to rectify the situation arising from the dumping of goods and its trade distortive effect. Thus, antidumping duty aims to rectify the distortive trade effect of dumping and re-establish fair trade. Anti-dumping and anti-subsidy duties are levied against exporter/country as much as they are country- specific and exporter specific. The WTO permits using antidumping measures as an instrument of fair competition. It provides relief to the domestic industry against the injury caused by dumping. So, Statement 2 is correct.
- Safeguard duty is levied irrespective of the country to protect domestic industry temporarily from the surge of cheap imports. As per section 8B(1) of the Customs Tariff Act, safeguard duty is imposed to protect the interests of any domestic industry in India, and it is product specific. This aspect distinguishes Safeguards from antidumping and anti-subsidy measures, which are always country-specific and exporter specific. So, Statement 3 is not correct.
Free Test
FREE
| Start Free Test |
Community Answer
Which of the following duties levied by the Government of India are co...
The correct answer is option 'A': 1 and 2 only.
Countervailing Duty (CVD), Anti-Dumping Duty (ADD), and Safeguard Duty are all duties levied by the Government of India to protect domestic industries from unfair competition and to regulate international trade. However, among these duties, only Countervailing Duty and Anti-Dumping Duty are country-specific.
1. Countervailing Duty (CVD):
Countervailing Duty is a duty imposed on imported goods to neutralize the impact of subsidies provided by the exporting country to their domestic industries. It is levied on imported goods to ensure fair competition with domestic industries. CVD is specific to a particular country and is imposed when the government finds that a foreign country is providing subsidies to its industries, resulting in unfair competition with Indian industries.
2. Anti-Dumping Duty (ADD):
Anti-Dumping Duty is levied on imported goods to counteract the negative effects of dumping. Dumping refers to the practice of exporting goods to another country at a price lower than its normal value, often causing harm to domestic industries. ADD is imposed on such dumped goods to restore fair competition and protect domestic industries. Like CVD, ADD is also specific to a particular country and is imposed when the government finds evidence of dumping by a foreign country.
3. Safeguard Duty:
Safeguard Duty is a temporary measure imposed on imported goods to protect domestic industries from a surge in imports that could cause serious injury. Unlike CVD and ADD, Safeguard Duty is not country-specific. It can be imposed on imports from any country, including India's trading partners, if a sudden increase in imports threatens domestic industries. Safeguard duties are typically imposed for a limited period of time to allow domestic industries to adjust and become competitive.
In conclusion, among the duties mentioned, Countervailing Duty and Anti-Dumping Duty are specific to a particular country, while Safeguard Duty can be imposed on imports from any country. Therefore, the correct answer is option 'A': 1 and 2 only.
Countervailing Duty (CVD), Anti-Dumping Duty (ADD), and Safeguard Duty are all duties levied by the Government of India to protect domestic industries from unfair competition and to regulate international trade. However, among these duties, only Countervailing Duty and Anti-Dumping Duty are country-specific.
1. Countervailing Duty (CVD):
Countervailing Duty is a duty imposed on imported goods to neutralize the impact of subsidies provided by the exporting country to their domestic industries. It is levied on imported goods to ensure fair competition with domestic industries. CVD is specific to a particular country and is imposed when the government finds that a foreign country is providing subsidies to its industries, resulting in unfair competition with Indian industries.
2. Anti-Dumping Duty (ADD):
Anti-Dumping Duty is levied on imported goods to counteract the negative effects of dumping. Dumping refers to the practice of exporting goods to another country at a price lower than its normal value, often causing harm to domestic industries. ADD is imposed on such dumped goods to restore fair competition and protect domestic industries. Like CVD, ADD is also specific to a particular country and is imposed when the government finds evidence of dumping by a foreign country.
3. Safeguard Duty:
Safeguard Duty is a temporary measure imposed on imported goods to protect domestic industries from a surge in imports that could cause serious injury. Unlike CVD and ADD, Safeguard Duty is not country-specific. It can be imposed on imports from any country, including India's trading partners, if a sudden increase in imports threatens domestic industries. Safeguard duties are typically imposed for a limited period of time to allow domestic industries to adjust and become competitive.
In conclusion, among the duties mentioned, Countervailing Duty and Anti-Dumping Duty are specific to a particular country, while Safeguard Duty can be imposed on imports from any country. Therefore, the correct answer is option 'A': 1 and 2 only.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?
Question Description
Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?.
Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?.
Solutions for Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Which of the following duties levied by the Government of India are country-specific ?1. Countervailing Duty2. Anti-Dumping Duty3. Safeguard DutySelect the correct answer using the codes given below :a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup