Anti-dumping duty on a chemical imported from US, EU, Korea

The government has imposed anti- dumping duty ranging between $0.21 and $0.36 per kg on import of a chemical used by pharma companies from the US, the EU and Korea for five years to protect the domestic industry.

The Revenue Department imposed the anti-dumping duty on 'Methylene Chloride' also known as 'Dichloromethane' on recommendations of the Directorate General of Anti Dumping & Allied Duties (DGAD).

The duty range between $0.21 and $0.36 per kg, said a notification by the Cental Board of Excise and Customs.

After a probe into imports, the DGAD had reached a conclusion that "the domestic industry has suffered material injury on account of subject (Methylene Chloride) imports from the subject countries (European Union, United States of America and Korea)".

It recommended imposition of definitive anti-dumping duty on the import of the chemical.

Earlier, Chemplast Sanmar and Gujarat Fluorochemicals had moved the DGAD seeking imposition of anti-dumping duty in October, 2013. The government had imposed a provisional duty for six months on imports of the chemical.

The duty would be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of imposition of the provisional anti-dumping duty i.e. October 21, 2013.

Methylene chloride is used in the manufacturing of polycarbonate and phenolic resins, rayon yarn, agro, fragrance and pharmaceuticals. It is also used as an extract for edible fats, cocoa, butter and essences.

Countries initiate anti-dumping probes to check if domestic industry has been hurt because of a surge in below- cost imports. As a counter-measure, they impose the duty under the multilateral WTO regime.

EDITORIAL OF THE DAY

  • Reservations, along with economic subsidies, must go to get India moving

    A young man, in his early twenties, starts an agitation demanding reservation for the community he represents.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

The China story isn’t over yet

China’s financial markets are currently in the eye of a ...

Anuja Sharma

Love yourself to love others

“There are two basic motivating forces: fear and love. When ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture