poojap
Apr 11 th, 2018

Import NewsNo Comments

The center has imposed an anti-dumping duty on the import of a chemical coming in from China to safeguard the domestic industry from the cheap shipments.

The Central Board of Excise and Customs (CBEC) announced in a notice that an anti-dumping duty of USD 1,685.42 per metric tonne has been levied on the import of Phosphorus Pentoxide from China. This duty is applicable for five years.

The chemical, Phosphorus Pentoxide, which has been brought under the duty, is a powerful desiccant and dehydrating agent. It is a useful building block and reagent used by the chemical industry.

The Directorate General of Anti-Dumping and Allied Duties (DGAD) had investigated the import of this chemical into the country to find out if the cheap shipments were cutting into the profits of domestic industry manufacturing the chemical. This investigation looked into determining the “existence, degree and effect” of said dumping of the chemical and to introduce the anti-dumping duty, which would safeguard the local industry.

The DGAD after the probe came to a conclusion that the said chemical was being brought into India at a value below the normal and hence the domestic industry was suffering a material injury because of the dumping. The DGAD recommended the anti-dumping duty for the import of the chemical from China and the revenue department accepted and imposed it.

Read More Latest News

Be the first to post a comment.

Add a comment

Join 15K Subscriber
SUBSCRIBE NOW

Get Latest Import Export News in your Inbox

Stay updated with all latest updates,upcoming events & much more.
Get the latest Exim News in your inbox
Subscribe
Join 15K subscribers

Stay Connected!

Get latest import export news delivered straight to your inbox!
SUBSCRIBE