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

RELATED ARTICLES

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The duty would be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of imposition of the provisional anti-dumping duty i.e. October 21, 2013.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

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Tax collections are a more reliable indicator of economic growth

    Direct taxes collection figures are supposed to reflect the health of corporate bottomlines as well as the state of the overall economy.

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

Arun Nigavekar

Learning the art of learning styles

Recently, I met a group of new teachers from different ...

Rajgopal Nidamboor

The essence of creative energy

Creativity or originality isn’t the privilege of working minds, even ...

Gautam Gupta

Indian designers can learn a lot from Benetton

I was reading an article in the magazine about Benetton ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture