Seeks to notify the India- Japan Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017

Circular No.ES/288/2016-17                                                                      January 31, 2017

To: Members of the Council

Sub: Seeks to notify the India- Japan Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017

Dear Sir,                     

This is to inform you that CBEC has issued  Notification No. 7/2017 - Customs (N. T.) dated 24.01.2017 regarding the India- Japan Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017 (Highlighted in Point No. 3- Duties of Director General of the above Notification).

Vide this Notification, the Finance Ministry has notified India-Japan Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017;

As per Rule 3 thereof, Director General shall inter alia investigate whether increased imports of an originating good from Japan into India, have caused or threatening to cause serious injury to domestic industry as a result of elimination / reduction of customs duty under the Trade Agreement; Director General shall recommend bilateral safeguard measure for a particular duration which if adopted, would be adequate to prevent or remedy the serious injury; On receipt of recommendations of Director General, the Central Govt. may suspend further reduction of customs duty rate on originating good provided for in the Trade Agreement / increase the customs duty rate to a level not to exceed the lesser of –

1. the Most Favoured Nation applied customs duty rate on originating good in effect on the day when bilateral safeguard measure is taken; or

2. the Most Favoured Nation applied duty rate on the day immediately preceding date of entry into force of Trade Agreement; Bilateral safeguard measure shall not exceed a period of 3 years from date of its imposition, provided that in highly exceptional circumstances, Central Govt. may extend said period on recommendation of Director General.

Members may kindly make note of the same.

Thanking you,

V.ANIL KUMAR
EXECUTIVE DIRECTOR