India has imposed an anti-dumping duty on imports of caustic soda from South Korea to protect the domestic industry.
The duty would be USD 366 per DMT (dry metric tonne) of South Korean odourless chemical imported into the country.
Caustic Soda is a soapy chemical used to manufacture pulp, paper, textiles, soaps, detergents and drugs.
"The imposed duty shall be effective up to and inclusive of December 25, 2013, with effect from October 3, 2011," the Department of Revenue has said in a notification.
The levy has been imposed after the designated authority Directorate General of Anti-Dumping and Allied Duties (DGAD), a nodal agency under the Commerce Ministry, recommended its imposition following an investigation.
In its probe, the DGAD concluded that the domestic industry had suffered a material injury on account of dumping of the product by South Korea.
Anti-dumping duty is recommended by the Commerce Ministry, while the Finance Ministry imposes the same.
Unlike safeguard duties which are levied in a uniform way, anti-dumping duties vary from product to product and from country to country.
Countries initiate anti-dumping probes to check if domestic industry has been hurt because of a surge in cheap imports.
Source : moneycontrol.com