Topics revenue department | Import duty | anti dumping

Press Trust of India  |  New Delhi  Last Updated at July 20, 2021 18:18 IST

The government has decided not to impose anti-dumping duty on imports of a certain type of fibre board, used to make furniture and cabinets, from Vietnam, Malaysia, Thailand, and Indonesia, as per an office memorandum of the Department of Revenue.

The commerce ministry's investigation arm DGTR had in April recommended imposition of the duty for five years on 'plain medium density fibre board having thickness less than 6mm' after concluding in a probe that the domestic industry was impacted due to dumping of the goods from these countries.

The Directorate General of Trade Remedies (DGTR) suggested duty in the range of USD 227.47 to USD 258.42 944 per cubic metre.

The probe was conducted following a complaint by domestic manufacturers.

While the directorate recommends these duties, the Department of Revenue takes the final decision to impose the same.

"The central government has decided not to impose the anti-dumping duty on imports of plain medium density fibre board having thickness less than 6mm originating in or exported from Vietnam, Malaysia, Thailand, and Indonesia...," the memorandum said.

In international trade parlance, dumping happens when a country or a firm exports an item at a price lower than the rate of that product in the domestic market.

Dumping impacts the price of that product in the importing country, hitting margins and profits of domestic manufacturing firms.

According to global trade norms, a country is allowed to impose tariffs on such dumped products to provide a level-playing field to domestic manufacturers.

The duty is imposed only after a thorough investigation by a quasi-judicial body, such as DGTR in India. The imposition of anti-dumping duty is permissible under the World Trade Organization (WTO) regime.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed. Support quality journalism and subscribe to Business Standard . Digital Editor

Copyrights © 2021 Business Standard Private Ltd. All rights reserved.

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

Welcome to the premium services of Business Standard brought to you courtesy FIS. Kindly visit the Manage my subscription page to discover the benefits of this programme. Enjoy Reading! Team Business Standard