Double Column Tariff - Explained
What is a Double Column Tariff?
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What is a Double Column Tariff?
A Double Column Tariff is a tariff system which has two different duty rates for a particular product. Here, the import tax on the product depends on the country of its origin. The rate is assessed by the importing country's trade relationship with the exporting country. Depending on that relationship the tariff may be higher for an exporting country than that of another country.
Back to: ECONOMIC ANALYSIS & MONETARY POLICY
How Does a Double-Column Tariff System Work?
In a single column tariff system, the tariff rate on a commodity is uniform for all exporting countries. The traditional or conventional tariff system a uniform tariff is applied on a product for all the importing countries with an understanding that the tariff may be reduced for some country on the occasions of any trade agreement between the two countries. The lowest tariffs are applied to the products imported from a country with whom the importing country has a free trade agreement. The Indian government has applied double column tariff to the commodities since the Commonwealth preference agreement of 1932. The tariff rate is low on the products imported from the Commonwealth nations. The tariff for the same goods is higher which are imported from other countries.
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