India: CBIC Levies Anti-Dumping Duty on Imports of Flexible Slabstock Polyol From Saudi, UAE For Five Years

12/04/2021 12:00 - 60 total view

The central government has imposed anti-dumping duty on imports of exible slabstock polyol, originating or being exported from Saudi Arabia and the UAE and costing between $101.8 and $235.02 per metric tonne for ve years. 

The Central Board of Indirect Taxes and Customs (CBIC) followed the recommendations of the Directorate General of Trade Remedies (DGTR) on this front for the overall advantage of the domestic industry. 

The local businesses had apparently faced material losses due to the dumping of products from the two middle-eastern nations. 

Dumping refers to a situation when a rm or a country exports a product at a cost lower than that of it in their domestic market. This leads to a negative impact on the product price in the importing countries and hence it ends up hitting a blow to the prot margins of manufacturing rms. 

“The designated authority in its nal ndings has come to the conclusion that the product under consideration has been exported to India from the subject countries below its associated normal value, thus resulting in dumping,” the board was quoted as stating by the Economic Times. 

Countries are permitted to levy taris on dumped products following a probe by a quasi-judicial body like the DGTR to oer an even break to domestic manufacturers. Flexible slabstock polyol is used to make polyurethane products, slabstock foam and also polyurethane foam mattresses.
Source:  SWARAJYA