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The Central Board of Indirect Taxes and Customs (CBIC) has been notified to impose definitive anti-dumping duty on the imports of Isobutylene-Isoprene Rubber.
In the matter of “Isobutylene-Isoprene Rubber (IIR) falling under tariff item 4002 31 00 of the First Schedule of the Customs Tariff Act, 1975, originating in, or exported from People’s Republic of China, Russia, Saudi Arabia, Singapore and United States of America and imported into India, the designated authority in its final findings, vide notification F. No. 06/05/2023-DGTR issued a conclusion.
The designated Authority concluded that the Authority has adopted a Product Control Number (PCN) methodology and notified the same. The methodology has been applied to ensure that the imported and domestic product comparison is fair, the dumping margin and injury margin are determined by undertaking such fair comparison. The PCN methodology was developed after due opportunity to all interested parties and taking into account submissions and comments offered by various interested parties; and the dumping margin is positive and significant.
The authority has stated that the domestic industry has suffered material injury as a result of the dumped goods from the subject countries. The investigation has not shown that any other factor could have caused injury to the domestic industry.
Therefore, the designated Authority has recommended imposition of an anti-dumping duty on the imports of subject goods, originating in, or exported from the subject country and imported into India, in order to remove injury to the domestic industry.
The anti-dumping duty imposed under this notification shall be levied for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency.
For the purposes of the notification, rate of exchange applicable for the purpose of calculation of such anti-dumping duty shall be the rate which is specified in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and the relevant date for the determination of the rate of exchange shall be the date of presentation of the bill of entry under section 46 of the said Customs Act.
FAQs On Anti dumping duty
Anti dumping duty Is Imposed on which products?
The Central Board of Indirect Taxes and Customs (CBIC) has been notified to impose definitive anti-dumping duty on the imports of Isobutylene-Isoprene Rubber.
What is anti-dumping duty in India?
Anti dumping is a measure to rectify the situation arising out of the dumping of goods and its trade distortive effect. Thus, the purpose of anti dumping duty is to rectify the trade distortive effect of dumping and re-establish fair trade.
Notification Details
Notification No. 17/2024-Customs (ADD)
Date: 27/09/2024
