1. Tax dodge probe: Commerce Ministry to meet steel players on July 3

Tax dodge probe: Commerce Ministry to meet steel players on July 3

The Commerce Ministry has called a meeting of the steel industry on July 3, taking forward the probe into alleged dodging of anti-dumping duties on imports of certain stainless steel items from six countries and the European Union.

By: | Published: June 11, 2017 11:50 AM
Commerce Ministry, European Union, steel industry, European, anti-dumping duties, Jindal Stainless, stainless steel, China, Korea, South Africa, Taiwan, Thailand, the US and the EU The Commerce Ministry has called a meeting of the steel industry on July 3, taking forward the probe into alleged dodging of anti-dumping duties on imports of certain stainless steel items from six countries and the European Union. (Image: Reuters)

The Commerce Ministry has called a meeting of the steel industry on July 3, taking forward the probe into alleged dodging of anti-dumping duties on imports of certain stainless steel items from six countries and the European Union.  Jindal Stainless had filed an application for initiating a probe into alleged circumvention of anti-dumping duties on some steel products from China, Korea, South Africa, Taiwan, Thailand, the US and the EU. The Directorate General of Anti-dumping and Allied Duties (DGAD) will hold an “oral hearing on July 3” regarding the probe. It has asked the interested parties to submit the names of their representatives for the hearing.

The company has alleged circumvention of anti-dumping duties on ‘cold rolled flat product of stainless steel widths from 600 mm to 1250 mm’. The probe was initiated in February last year by the DGAD, the investigation arm of the ministry, but was stayed on April 27, 2016, by the Delhi High Court. The stay was vacated on March 8 this year. The ministry resumed the investigation thereafter. Earlier in a notification, the DGAD had stated that it has sufficient evidence of circumvention of anti-dumping duties leviable on cold-rolled flat products of stainless steel originating from these seven destinations.

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The probe would determine the existence, degree and effect of the alleged circumvention and would also examine the need to extend the existing anti-dumping duty to the circumventing products.  In December 2015, India had imposed an anti-dumping duty of up to 57.39 per cent on import of the products from China, Korea, the US and the EU for five years to save the domestic industry from cheap shipments.

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