New Delhi: Revenue department has extended anti-dumping duty on import of certain Chinese products, used in garment, footwear and toys manufacturing, for another five years.
The anti-dumping duty on ‘narrow woven fabrics hook and loop velcro tapes’ will be charged at the rate of USD 1.87 per kilogram.
These products are mainly used in garment manufacturing, surgical and orthopedic apparatus, shoes and footwear, luggage/bags, toys, automobile upholstery and various other industrial segments.
The Central Board of Excise and Customs (CBEC) imposed the duty based on recommendations of the Directorate General of Anti-Dumping and Allied Duties (DGAD).
The DGAD made the case for continuation of the levy after its second sunset review of the anti-dumping duty in force on the imports.
In market parlance, the product is known by various synonyms such as ‘hook and loop tape fasteners’, ‘velcro tapes’, ‘fastening tapes’ and ‘fasteners’.
Earlier also in October 2010, the Revenue Department of the Finance Ministry had extended the levy till October 2015.
However, before expiry of the duty Ishi Industries moved an application before the DGAD for another sunset review.
DGAD initiated the review investigation in October 2015 to examine whether the expiry of the duty on the import is likely to lead to continuation or recurrence of dumping and injury to the domestic industry. The anti-dumping duty was in force till October 5, 2016. PTI
For more news updates Follow and Like us on Facebook