 "Govt extends anti-dumping duty on steel pipes, tubes from China")
India has extended anti-dumping duty on import of certain steel products from China for five years with an aim to protect domestic players from the cheap shipments.
Earlier in May 2016, the revenue department had imposed a provisional anti-dumping duty on 'seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel, whether hot-finished or cold-drawn or cold-rolled of an external diameter not exceeding 355.6 mm.
The provisional levy was imposed on the recommendation of the Directorate General of Anti-Dumping And Allied Duties (DGAD).
The DGAD in its final findings had made a case for definitive anti-dumping duty on the steel products.
Acting on the recommendations, the Central Board of Excise and Customs (CBEC) in the revenue department has now imposed a definitive anti-dumping duty.
"The anti-dumping duty shall be effective for a period of five years from the date of the imposition of the provisional anti-dumping duty, that is, May 17, 2016," the CBEC said in a notification.
The levy has been imposed in the range of $961.33 to $1,610.67, the revenue department said.
The purpose of anti-dumping duties, in general, is to eliminate injury caused to the domestic industry by the unfair trade practices of dumping so as to re-establish a situation of open and fair competition in the market, which is in the general interest of the country.
