| Date: |
16-03-2016 |
| Subject: |
Govt imposes anti-dumping duty on plastic-processing imports |
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In a move designed to protect the domestic industry, the government imposed anti-dumping duty of up to 44.7 percent on import of plastic-processing machines from Chinese Taipei, Malaysia, the Philippines and Vietnam for five years.
The duty will be levied on imports of all kinds of plastic-processing or injection-moulding machines, also known as injection presses.
The Central Board of Excise and Customs (CBEC) said the safeguard duty covers imports from the countries in question and has been imposed after the domestic industry took a beating from such dumping.
"The anti-dumping duty imposed shall be levied for five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency," CBEC said in a notification.
Plastic-processing or injection-moulding machines are used for processing or moulding plastic materials.
CBEC has found that import of these goods has led to deterioration of performance of the domestic industry and the injury is significant and material.
A notification of the Revenue Department said anti-dumping duty of 27.98 percent has been imposed on plastic-processing machines imported from Chinese Taipei.
Further, a safeguard duty of 44.74 percent and 30.85 percent has been imposed for the same products imported from Malaysia and the Philippines. Also, imports from Vietnam will attract a levy of 23.15 percent.
Countries initiate an anti-dumping probe to determine if the domestic industry has been hurt by a surge in below-cost imports.
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.
Source : moneycontrol.com
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