India extends safeguard duties on steel imports by two years

India, under pressure from its domestic steel industry for protection against cheap Chinese imports, has extended the safeguard duty on some steel imports by two years.

The Central Board of Excise and Customs (CBEC) said in a notification that the 20 per cent safeguard duty would apply on import of “hot-rolled flat products of non-alloy and other alloy Steel in coils of a width of 600 mm or more” till September 13, this year.

Safeguard duties were first introduced in September last year. Last month, a floor price on imports was set to deter countries like China from undercutting domestic industry, the first such move in more than 15 years. Here are the details:

  • 20 percent ad valorem minus anti-dumping duty payable, if any, when imported during the period from 14th September, 2015 to 13th September, 2016 (both days inclusive)
  • 18 percent ad valorem minus anti-dumping duty payable, if any, when imported during the period from 14th September 2016 to 13th March 2017 (both days inclusive)
  • 15 percent ad valorem minus anti-dumping duty payable, if any, when imported during the period from 14th March 2017 to 13th September, 2017 (both days inclusive); and
  • 10 percent ad valorem minus anti-dumping duty payable, if any, when imported during the period from 14th September 2017 to 13th March, 2018 (both days inclusive)

 

Leave a Reply

Your email address will not be published.