TABLE OF CONTENTS 1. Introduction 1.1 Jurisprudence of Subsidies prior to SCM Agreement, 1994; 1.2 The concept of subsidy; I .3 Different categories of subsidy; 2. Research Methodology; 2.1 Research Objective; 2.2 Scope and Limitations; 2.3 Hypothesis; 2.4 Research Questions; 2.5 Chapterization; 2.6 Method of Analysis; 2.7 Sources; 2.8 Mode of Citation; 3. Chapter - 01. A General Scrutiny of Subsidies; 3.1 Efforts to Deal with Subsidies Prior to the Uruguay Round; 3.1.1 Subsidies under GAIT 1947; 3.1.2 Subsidies Code: The Tokyo Round; 3.1.3 Subsidies after the Tokyo Round; 3.1.4 Subsidies Debate before the Conclusion of the Uruguay Round; 4. Chapter - 02. An In-depth Analysis of SCM Code; 4. 1 Export Subsidies; 4.2 Remedies; 4.3 Non-actionable Subsidies; 4.4 Developing Countries and the SCM Agreement; 4.5 SCM - Dispute Settlement Mechanism; 5. Chapter - 03. Actionable Subsidies; 5.1 Concept of Injury; 5.2 Like Product; 5.3 Domestic Industry; 5.4 Injury; 5.5 Nullification or impairment; 5.6 Serious prejudice; 5.7 Multilateral remedies for actionable subsidies; 6. Chapter - 04. Countervailing Duties; 6.1 Calculation of the Amount of a Subsidy; 6.2 Countervailing Measures; 7. Chapter - 05 Indonesia Autos; 7.1 Background; 7.2 Complainants; 7.3 Claims under the SCM Agreement; 7.4 Existence of subsidies (Art. 1 of SCM Code); 7.5 Specificity (Art. 2 of the SCM Code); 7.6 Serious Prejudice Claims (Art. 6 of the SCM Code); 7.7 Whether the subsidies are actionable under Part III of the SCM Agreement; 7.8 Claims of Serious Prejudice under Part III of the SCM Agreement; 7.9 Are the measures specific subsidies? 7. 10 May the complainants bring a serious prejudice claim against Indonesia; 8. Chapter - 06 Brazil - EC Milk and Milk Powder; 8.1 Background; 8.2 Provisional countervailing duties; 8.3 Definitive countervailing duties; 8.4 Harmless Error; 8.5 Conclusions and Recommendations; 9. Chapter - 07 US Cotton Subsidy; 9.1 Background; 9.2 The Findings; 9.3 Serious prejudice; 9.4 Appellate Body report; 9.6 Export Support Programmes That Came Under Scrutiny; 9.7 Conclusions and Recommendations; 10. Chapter - 08 Korea Commercial Vessels; 10.1 Background; 10.2 Complainants; 10.3 Serious Prejudice; 10.4 Scope of the claim; 10.5 Legal frame work; 10.6 Serious prejudice may arise; 10.7 Conclusions and Recommendations; 11. Conclusion; 11.1 Recommendations; 1l.l.1 Conditions for countervailability; 11.1.2 Trade effects - tests for actionable subsidies; 11.1.2.1 In the market of the importing country; 11 .1.2.2 In the market of the subsidizing country or in third country markets; 11.1.3 Remedies - countervailing duties; 12. Bibliography; 13. Annexure;