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News:The Directorate General of Trade Remedies (DGTR), Ministry of Commerce and Industry has launched ARTIS(Applications for Remedies in Trade for Indian Industry and other Stakeholders).
Facts:
- ARTIS: It is an online system developed for filing applications by the domestic industry with respect to various trade remedial measures such as anti-dumping duty, safeguard duty and countervailing duty.
Additional Facts:
Anti-dumping duty:
- Anti-dumping Duty:It is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value.
- Safeguard duty:It is a temporary relief provided when imports of a product increase unexpectedly and threaten the existence of domestic players of similar products.
- Countervailing duty(CVD):It is an additional import duty imposed on imported products by the importing country when such products enjoy benefits like export subsidies and tax concessions in the country of their origin.
