The UK CBAM: Carbon conundrum at the crossroads of trade and sustainability
Recently the UK Government released its much-anticipated response to the policy consultation on introducing the UK Carbon Border Adjustment Mechanism (‘UK CBAM’) which is similar to the objective of the EU under its CBAM. Discussing various features of the UK CBAM, the authors (Ankur Sharma, Aayush Rastogi, and Nikita Chauhan) highlight that Indian businesses need to become proactive in understanding the legal obligations, compliance requirements, and commercial implications of the UK CBAM, and must assess the same in advance so that they can give a clear picture to their customers in UK on the potential CBAM exposure. They also for this purpose enlist various key aspects on which Indian businesses must carry out due diligence. Also, according to them, this should be seen as an opportunity to begin carbon footprint monitoring and reporting and marching ahead by demonstrating strong commitment to sustainability and climate change mitigation.
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- 2,4-Dichlorophenoxyacetic Acid from India – USA issues preliminary affirmative determination of sales at less than fair value
- Aluminum Extrusions from India – USA issues finding of absence of material injury in anti-dumping investigation
- Barium Chloride from India – USA revokes countervailing duty order
- Carbon and Alloy Steel Threaded Rod from India – USA initiates 5-year reviews for anti-dumping duty and countervailing duty
- Common Alloy Aluminum Sheet from India – USA issues determination that Hindalco Industries Limited and Manaksia Aluminium Company Limited received countervailable subsidies 1 January 2022 till 31 December 2022
- Epichlorohydrin from China PR, Korea RP and Thailand – India imposes anti-dumping duty
- Epoxy Resins from India – USA issues preliminary affirmative determination of sales at less than fair value
- Glycine from India – USA issues affirmative finding in 5-year review of anti-dumping and countervailing duty
- Hard Empty Capsules from India – USA initiates countervailing duty investigation and less-than-fair-value investigations
- Hexamethylenetetramine from India – USA initiates countervailing duty investigation and less-than-fair-value investigations; Affirmative finding also issued of material injury
- Hot-Rolled Carbon Steel Flat Products from India – USA issues affirmative results of sunset review for anti-dumping and countervailing duty
- Mono Ethylene Glycol (MEG) from Kuwait, Saudi Arabia and USA – India terminates anti-dumping investigation
- Overhead Door Counterbalance Torsion Springs from India – USA issues notice of institution of investigations for anti-dumping duty and countervailing duty
- Polyvinyl Chloride Suspension Resins from China PR, Indonesia, Japan, Korea RP, Taiwan, Thailand and USA – India’s DGTR recommends provisional anti-dumping duty
- Stainless Steel Flanges from India – USA issues preliminary finding that countervailable subsidies provided to Pradeep Metals Limited from 1 January 2022 till 31 December 2022
- Textured Tempered Glass from China PR and Vietnam – India’s DGTR recommends provisional anti-dumping duty
- Welded Stainless-Steel Pipes and Tubes from Thailand and Vietnam – India imposes anti-dumping duty
- Colombian anti-dumping duties on frozen fries from Belgium, Germany and Netherlands – Compliance panel established
- EU’s countervailing duty on battery electric vehicles from China – China requests for consultations under DSU
- Philippines initiates safeguard duty investigation on cement imports
India Customs and Trade Policy Update
- Electronic integrated circuits – Requirement of registration under Chip Import Monitoring System discontinued
- QCOs notified by Ministry of Heavy Industries need not be complied for imports by Advance Authorization holders, EOUs and SEZs
- Clear float glass having only a tin layer on one side is classifiable under Customs TI 7005 29 90
- Coking and non-coking coal – Mandatory additional qualifiers notified in import declarations
- Synthetic or Reconstructed Diamonds – Mandatory additional qualifiers notified for export/import declarations
- Anti-dumping duty on DTA clearance by SEZ unit – Development Commissioner of SEZ had jurisdiction to issue SCN prior to 5 August 2016 – Madras High Court
- Social Welfare Surcharge is not payable when BCD paid using MEIS scrips – Duty liability is not discharged when exemption obtained – Orissa High Court
- Exemption – Effect of non-use of terms ‘only’, ‘exclusively’, ‘wholly’ or ‘entirely’ before the words ‘for medical use’ – CESTAT Mumbai
- Speaking order is required under Customs Section 17(5) in respect of each Bill of Entry – CESTAT Mumbai
- Pulses waste is classifiable under Heading 0713 and not under TI 2302 50 00 – CESTAT Ahmedabad
- Integrated Circuit Micro Electro-Mechanical System Microphones is classifiable as microphone and not as electronic integrated circuit – Delhi High Court
- Innopet Plasmax System used for coating PET bottles for aerated beverages is classifiable under TI 8422 30 00 – CESTAT Mumbai
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