BUSINESS

Govt. slaps anti-dumping duty on steel pipes from China

The Government has imposed a provisional anti-dumping duty for six months on seamless tubes, steel pipes, among others imported from China.

In March, the Directorate General for Anti-dumping and Allied Duties (DGAD) had recommended to the Revenue Department to impose provisional levy on import of certain types of iron and steel pipes from China used in oil and gas exploration in a bid to protect the domestic industry from cheap imports.

“The Central Government... hereby imposes on the subject goods, ... an anti-dumping duty at a rate which is equivalent to difference between the landed value of the subject goods...,” the Central Board of Excise and Customs (CBEC) said in a notification.

The anti-dumping duty will be in the range of $ 961.33-$1,610.67.

“The duty imposed under this notification shall be effective for a period not exceeding six months (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be paid in Indian currency,” it said.

ISMT Ltd and Maharashtra Seamless had moved the DGAD for imposition of the duty. —PTI

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