Government has imposed anti-dumping duty of up to 44.7 per cent on import of plastic-processing machines from Chinese Taipei, Malaysia, the Philippines and Vietnam for five years. The duty will be levied on imports of all kinds of plastic-processing or injection-moulding machines, also known as injection presses. The Central Board of Excise and Customs (CBEC) said yesterday that the safeguard duty covers imports from the countries in question and has been imposed after the domestic industry took a beating from such dumping. A notification of the Revenue Department said anti-dumping duty of 27.98 per cent has been imposed on plastic-processing machines imported from Chinese Taipei. Further, a safeguard duty of 44.74 per cent and 30.85 per cent has been imposed for the same products imported from Malaysia and the Philippines. Also, imports from Vietnam will attract a levy of 23.15 per cent. Anti-dumping measures are taken to ensure fair trade and provide a level-playing field to the domestic industry. They are not a measure to restrict imports or cause an unjustified increase in cost of products.
News On AIR | March 16, 2016 6:43 AM
Govt imposes anti-dumping duty on plastic-processing imports