Nandakumar, listen very carefully -
Holy moly - be careful with that stuff -
It's actually a flat base that's used to add to gloss paints to make them dull.
Whatever you do, DON'T thin it and spray it on all by itself!!! You'll end up with your whole model turning a chalky white color - do you hear the voice of experience in what I'm saying? I killed a beautiful Spitfire once using that stuff - the label had Japanese writing on it - no English, so I didn't know how to use it...........................
You'll have to experiment with the correct proportions to mix the flat base to a gloss color - or a gloss clear. Just experiment on a aluminium can or something.
Personally, I just use Humbrol Dullcote or one of the Microscale products - I don't bother with the flat base - it's easier to just open up a jar and paint away, instead of taking the chance of adding too much of the flat base and ending up with a flat white model...................
Good luck and cheers,
LeeTree