Comments
The Finance Ministry has extended the validity of anti-dumping duty on certain seamless tubes and pipes imported from China till October 31.
This revenue department’s move follows the initiation of sunset review investigation by the Directorate General of Trade Remedies (DGTR) on imports of certain seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel from China.
ISMT Ltd and Jindal Saw Limited had filed the application for initiation of sunset review investigation on imports of certain seamless tubes and pipes from China.
It may be recalled that the anti-dumping investigation concerning imports of these goods from China was initiated on July 8, 2015. While the designated authority in the Commerce Ministry had recommended provisional anti-dumping duty on March 31, 2016, the revenue department had imposed the provisional anti-dumping duty on May 17, 2016.
The definitive anti-dumping duty was imposed on February 17, 2017 and is set to expire on May 16 this year. “Now, the validity of this duty has been extended to October 31,” sources said.
Anti-dumping duties are usually levied to provide a level playing field to the domestic industry against any surge in low-cost imports. They are not meant to restrict imports or cause an appreciable increase in cost of imports. The anti-dumping investigation is done by the DGTR, which recommends levy of anti-dumping duty. Based on the recommendations of the DGTR, the revenue department imposes anti-dumping duty.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.