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Border Adjustment Tax (BAT):
News:
- NITI Aayog member V.K. Saraswat on Wednesday favoured imposing a border adjustment tax (BAT) on imports to provide a level-playing field to domestic industries.
What is BAT?
- BAT is a duty that is proposed to be imposed on imported goods in addition to the customs levy that gets charged at the port of entry.
Argument od Mr. Saraswat:
- S.-China trade tensions are currently at historically high levels.
- In the post-COVID world, it is expected to rise further.
- So first we have to do a border adjustment tax to provide the domestic industry a level-playing field vis-a-vis imports.