X
Switch to Hindi Edition
Advertisement

Govt extends antidumping duty on seamless tubes, pipes till October

The government has extended anti-dumping duty on certain types of seamless tubes, and pipes till October 31 this year with a view to guarding domestic manufacturers from cheap Chinese imports.

While DGTR recommends the duty to be levied, the finance ministry imposes it.

The government has extended anti-dumping duty on certain types of seamless tubes, and pipes till October 31 this year with a view to guarding domestic manufacturers from cheap Chinese imports. The duty on ‘seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel (other than cast iron and stainless steel), whether hot finished or cold drawn or cold rolled of an external diameter not exceeding 355.6 mm’ was first imposed in May 2016 for five years.

“…the anti-dumping duty imposed under this notification shall remain in force up to and inclusive of the 31st October, 2021, unless revoked, superseded or amended earlier,” the Central Board of Indirect Taxes and Customs (CBIC) has said in a notification.

The commerce ministry’s investigation arm Directorate General of Trade Remedies (DGTR) had recommended for extension of the duty, after concluding a probe. While DGTR recommends the duty to be levied, the finance ministry imposes it.

Countries initiate anti-dumping probes to determine if the domestic industry has been hurt by a surge in below-cost imports. As a counter-measure, they impose duties under the multilateral WTO regime.

Anti-dumping measures are taken to ensure fair trade and provide a level-playing field to the domestic industry. They are not a measure to restrict imports or cause an unjustified increase in cost of products. India has initiated maximum anti-dumping cases against dumped imports from China.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

READ IN APP