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The Finance Ministry has imposed safeguard duty on imports of certain hot rolled flat sheets and plates of steel.
The Revenue Department move, however, would not apply on imports from developing countries except China, Ukraine and Indonesia.
Steel Authority of India Ltd (SAIL), Essar Steel , JSW Steel, Jindal Steel & Power were the domestic producers who had in 2015 filed a petition seeking Safeguard duty on hot rolled flat sheets and plates of steel.
For imports between November 23, 2016 and November 22, 2017 at a price below $504 per tonne on CIF basis, the Revenue Department has levied Safeguard duty of 10 per cent ad valorem minus the anti-dumping duty payable. The Safeguard duty has been pegged at eight per cent minus anti-dumping payable in the case of imports between November 23,2017 and November 22, 2018 (both days inclusive) at an import price below $504 per tonne on CIF basis.
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