India’s Directorate-General of Trade Remedies (DGTR) has levied provisional countervailing duty (CVD) on certain flat stainless-steel products originating or exported from Indonesia, as per a notice dated Oct 9. The move aims to safeguard domestic industry from subsidised imports.
Based on preliminary findings, the authority has levied duties in the range of 22.31-24.83pc for grade 7219 and 7220 depending on the company for the period of four months from October 9, 2020.
Duties on flat Products of Stainless Steel grade 7219 and 7220
|Guang Ching Nikel and Stainless Steel Industry||22.31pc|
|Tsingshan Stainless Steel||22.31pc|
|Ruipu Nickel and Chrome Alloy||22.31pc|
|IMR ARC Steel||22.65pc|
The CVD, however, will not be applicable on certain products like blade steel used in production of razor, coin blanks used in the production of monetary coins. The exceptions also include flat rolled products of stainless steel of thickness greater than 80mm and width more than 1,650mm.