Anti-dumping duty Current Affairs - 2019

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India imposed anti-dumping duty on Vitamin-C imports from China

To safeguard the interest of domestic industries of India, government on 6 August extended anti-dumping duty on import of all forms and grades of Vitamin C from China for the period of five years.

Earlier in 2009 government had imposed the anti-dumping duty which was later extended till June 2015 and now further extended to five more years with the duty of USD 3.74 for per kg of Vitamin-C import from China.

This move was taken following the findings of Central Board of Excise and Customs (CBEC) which concluded that imports of Vitamin-C have caused injury to the domestic industry.

As per the notification by Central Board of Excise and Customs (CBEC) anti-dumping duty is applicable to all grades and forms Vit-C which includes L-3-Ketothreohexuronic Acid Lactone substrates, 3-Oxo-L-gulofuranolactone, L-Xyloascorbic Acid, Ascorbic acid, etc.

What is Anti-Dumping Duty?

  • It is a trade duty imposed by any government on imported products which have prices less than their normal values in their domestic market.
  • Usually countries initiate anti-dumping probes to check if domestic industry has been hurt because of a surge in below-cost imports.
  • Anti-Dumping Duty is imposed under the multilateral WTO regime and varies from product to product and from country to country.
  • In India, anti-dumping duty is recommended by the Union Ministry of Commerce (i.e. Directorate General of Anti-Dumping Duty-DGAD), while the Union Finance Ministry imposes it.

Note: In year 2015 India had imposed anti-dumping duty on some of following products exported by China – Steel imports, CFL lamp, fibre glass, Vitamin E, Electronic Calculators, USB Flash Drives, Measuring tapes, Cast Aluminium Alloy Wheels or Alloy Road Wheels and many other products.

India imposes anti-dumping duty on phenol imports from South Africa

India has in imposed definitive anti-dumping duty of 342.76 dollars per tonne on all phenol imports on imports of Phenol from South Africa. This anti-dumping duty will be valid for a period of five years.

The duty was imposed by Union Finance Ministry based on the recommendations of the Directorate General of Anti-Dumping Duty (DGAD) under the aegis of Union Commerce Ministry.

This decision was taken by DGAD on the petition filed by Hindustan Organic Chemicals Limited and S I Group Limited seeking continuation of anti-dumping duty on Phenol imports from South Africa.

It should be noted the above mentioned two companies are the only producers of Phenol in the country.

Phenol

Phenol is a basic organic chemical characterized by a hydroxyl (−OH) group attached to a carbon atom.

Its specific name for its simplest member is monohydroxybenzene (C6H5OH) is also known as benzenol or carbolic acid.

It is widely used in particle boards, pharmaceuticals, plywoods, laminates and phenyl formaldehyde resins etc.

What is Anti-Dumping Duty?

  • It is a trade duty imposed by any government on imported products which have prices less than their normal values in their domestic market.
  • Usually countries initiate anti-dumping probes to check if domestic industry has been hurt because of a surge in below-cost imports.
  • Anti-Dumping Duty is imposed under the multilateral WTO regime and varies from product to product and from country to country.
  • In India, anti-dumping duty is recommended by the Union Ministry of Commerce (i.e. Directorate General of Anti-Dumping Duty-DGAD), while the Union Finance Ministry imposes it.