Continuing its protectionist approach to support the domestic steel industry hit by cheap imports, the government has extended the anti-dumping duty on certain cold-rolled flat steel products from four nations including China and South Korea, by two months. The duty will be the difference between the landed value of the steel products and $594 per tonne.
With an aim to restrict cheaper imports, government in August 2016 had issued a notification to impose an anti-dumping duty on import of cold-rolled flat products of alloy or non-alloy steel from China, South Korea, Japan and Ukraine, for six months which has been amended by the Central Board of Excise and Customs (CBEC) to extend the levy of duty by two months from the present six months. Safeguard measures cannot be imposed for a longer term until an investigation by the Directorate General of Anti-Dumping concludes (DGAD).
The anti-dumping duty was imposed on a recommendation of the DGAD, which come to the provisional conclusion that the subject goods have been exported to India from the subject countries below normal value (and) the domestic industry has suffered a material injury on account of subject imports from the subject countries. DGAD also felt that the injury has been caused by the dumped imports of the subject goods from the subject countries.