Friday, January 15, 2016

Steel ministry for removing duty exemption categories

  • After anti-dumping and safeguard duties, the Union ministry of steel wants to plug another trade route to prevent cheaper imports. It has recommended that Rule 11(1)(c) for imposition of countervailing duty (CVD) be amended, so that a duty can be imposed on exempted categories of steel imports.
  • Domestic industry has been complaining about below-cost import from China and Korea. Increased import has pushed domestic companies into losses.


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