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India slams another extension of anti dumping duty against certain Chinese products - (09 Oct 2016)

Customs

The Revenue Department of the Finance Ministry has slammed an extension of anti dumping duty on certain Chinese products used in garment, toys and footwear manufacturing, for another five years i.e. till 2021. Based on recommendations of the Directorate General of Anti-Dumping and Allied Duties (DGAD), the Central Board of Excise and Customs (CBEC) took the decision in this regard. The said extension aims to protect domestic industry from the harm caused by import of the cheap Chinese products.

Anti-Dumping Duty is a trade levy imposed by a government on imported products which have prices less than their fair normal values in their domestic market. The sole aim of the anti-dumping duty is to prevent dumping process where company exports a product at a price lower than price it normally charged in domestic market of importing countries’. Anti-Dumping Duty is imposed under the multilateral World Trade Organisation (WTO) regime and varies from product to product and from country to country. In India, anti-dumping duty is recommended by the Union Ministry of Commerce and imposed by the Finance Ministry of the Central Government.

The said anti-dumping duty is extended on ‘narrow woven fabrics hook and loop velcro tapes’ will be charged at the rate of USD 1.87 per kilogram. These products are mainly used in garment manufacturing, surgical and orthopedic apparatus, shoes and footwear, luggage/bags, toys, automobile upholstery and various other industrial segments.

The said anti-dumping duty was earlier slammed by the department in October 2010 till October 2015. The DGAD initiated the review investigation in October 2015 to examine whether the expiry of the duty on the import is likely to lead to continuation or recurrence of dumping and injury to the domestic industry. The said anti-dumping duty was in force till October 5, 2016. The said step taken by the Union Government will certainly help the domestic sector in coping up with the international market.

Tags : ANTI-DUMPING DUTY   EXTENSION   CHINESE PRODUCTS  

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