EU CALLS IN THE WTO

Yesterday, the EU asked the World Trade Organization (WTO) to form a dispute settlement panel to hash out the tax issues in India. Presently, the Indian government imposes a basic customs duty of 150% on imported spirits and 100% on imported wines. Along with the additional duties, the levies range between 177% and 540%.Last month, India refused to reform its expensive tax structure which led the EU to formally involve the WTO this week. The U.S. has also filed a