Finance Ministry imposes safeguard duty on sodium nitrite imports

06/03/2014 12:00 - 444 Views

New Delhi, March 4: The Finance Ministry has imposed safeguard duty on sodium nitrite imports into the country.

Sodium Nitrite is a white crystalline powder mostly used in pharmaceuticals industry, dye industries, construction chemical industries, meat processing and textiles, among others.

A safeguard duty of 30 per cent (minus anti-dumping duty payable if any) will be applicable for sodium nitrite imports from February 26 this year to February 25 next year.

For the next three months beginning February 26, 2015 to May 25, 2015, the safeguard duty has been pegged at 28 per cent.

This duty will, however, not apply to sodium nitrite imports from developing countries other than China.

The safeguard duty imposed by the revenue department is in line with the recommendations of the Director General (safeguards).

Deepak Nitrite, who accounts for major share of domestic production, had filed the petition seeking safeguard duty imposition on sodium nitrite imports into India.

The other three producers are Punjab Chemicals, Rashtriya Chemicals & Fertilisers and National Fertilisers.

Source: http://www.thehindubusinessline.com