CBIC imposes ADD on imports of Chinese Steel for 5 Years:

CBIC imposes ADD on imports of Chinese Steel for 5 Years The Central Board of Indirect Taxes and Customs(CBIC) has imposed Anti-Dumping Duty (ADD) on imports of "Flat base steel wheels" originating in and exported from China PR for a period of 5 years. According to a notification issued on Monday, an anti-dumping duty of $613 per tonne has been imposed on Chinese flat-base steel wheels. Steel wheel duty was imposed in 2018, and the ministry has now recommended that it be extended for another five years. The notification said, "The extension of existing duties provides no undue advantage to the Indian industry." "The evidence of export price indicates that Chinese exporters are exporting the goods to third countries at significant dumped and injurious prices," the notification further explained. As per the notification, there is healthy competition in the Indian market, and continuing duties will not deprive the domestic industry of any requirements. Simply explained, anti-dumping duties are taxes levied on imported goods to compensate for the gap between their export price and their normal value if dumping causes harm to rival product makers in the importing country. For Official Notification Download PDF Given Below: