The Hindu Business Line : Dumping duty on PSF imports withdrawn

THE Finance Ministry has withdrawn the definitive anti-dumping duty on polyester staple fibre (PSF) imports from South Korea, Malaysia, Taiwan and Thailand.

The Revenue Department in March last year imposed the definitive anti-dumping duty, which usually lasts for five years.

The move to withdraw the duty is a fallout of the Customs, Excise and Service Tax Appellate Tribunal's (CESTAT) adverse ruling on the findings of the Designated Authority in the matter.

The tribunal, had in its order dated June 30, 2004, held that the findings of the Designated Authority on "material injury" and "threat of injury" were not sustainable.

Accepting the CESTAT order, the Designated Authority had in the third week of August 2004 recommended to the Revenue Department that anti-dumping duty imposed on imports of PSF from South Korea, Malaysia, Taiwan and Thailand be withdrawn.

The Designated Authority, in December 2002, had come to a conclusion in its final findings that PSF originating in or exported from South Korea, Malaysia, Taiwan and Thailand have been exported to India below "normal value", resulting in dumping and that Indian industry has suffered "material injury".

Further, it also held that the injury has been caused by imports of PSF from these countries.

More Stories on : Anti-dumping | Petrochemicals

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