CBIC Imposes Anti-Dumping Duty on imports of Chinese Steel For 5 Years

The Central Board of Indirect Taxes and Customs (CBIC) has imposed an anti-dumping duty on imports of Chinese Steel for 5 years.

Chinese flat-base steel wheels are now subject to an anti-dumping charge of $613 per tonne. The government has suggested that the steel wheel duty be prolonged for an additional five years after it was first enacted in 2018.

According to the announcement, "The extension of existing duties provides no undue advantage to the Indian industry."

The notification went on to say, "The evidence of export price indicates that Chinese exporters are exporting the goods to third countries at significantly dumping and damaging prices."

According to the announcement, there is healthy competition on the Indian market, thus keeping the levies in place won't prevent the home industry from receiving any necessary supplies.

Anti-dumping duties, to put it simply, are taxes imposed on imported goods to make up for the difference between their export price and their typical value if dumping hurts local rival manufacturers of competing goods.

Notification No. 09/2023-Customs (ADD)

Date: 11/09/2023

Click Here To Read The Order