: Antidumping duty slapped on five Aluminium & Chemical products of Chinese origin #FinanceIndia #StockMarketNEWS Anti-dumping duty slapped on five Aluminium & Chemical products of Chinese origin New

@StockMarketNEWS Tue 28 Dec, 2021

Posted in: #FinanceIndia #StockMarketNEWS

Antidumping duty slapped on five Aluminium & Chemical products of Chinese origin #FinanceIndia #StockMarketNEWS
Anti-dumping duty slapped on five Aluminium & Chemical products of Chinese origin New Delhi, 27 Dec (KNN) To protect the local manufacturers from cheap Chinese imports, the Central Government has imposed anti-dumping duties on certain products such as aluminium goods and few chemicals for five years.

As per the Central Board of Indirect Taxes and Customs (CBIC), the duties have been imposed on certain flat rolled products of aluminium; sodium hydrosulphite (used on dye industry); silicone sealant (used in manufacturing of solar photovoltaic modules, and thermal power applications); hydrofluorocarbon (HFC) component R-32; and hydrofluorocarbon blends (both have uses in refrigeration industry).

All of these duties imposed were recommended by Directorate General of Trade Remedies (DGTR), an investigation arm of Ministry of Commerce.

It has examined and found that these products have been exported at a price below normal value in Indian markets, which has resulted in dumping due to which the local industry has suffered.

The CBIC said, "The anti-dumping duty imposed under this notification (on Silicone Sealant ) shall be levied for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency.”

It has also imposed duty on the imports of calcined gypsum powder from Iran, Oman, Saudi Arabia and United Arab Emirates (UAE) for five years.

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