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India extends anti-dumping duty on yarn imports
20 Mar '12
1 min read
The Indian Government has extended the levy of anti-dumping duty on various types of yarn imports for a further period of six months till August 20, 2012.
The anti-dumping duty on imports of all Fully Drawn or Fully Oriented Yarn/Spin Draw Yarn / Flat Yarn of polyester, originating in, or exported from, Indonesia, South Korea, Malaysia and Taiwan was first imposed in February 2007 by the Department of Revenue, Ministry of Finance.
These yarns are used in weaving and knitting to make fabrics.
The duty was imposed after the Directorate-General of Anti-Dumping and Allied Duties (DGAD) found that low-price imports of yarn from the four Asian nations were harming the domestic industry.
The DGAD had sought extension of the duty for a period of another one year. But the latest notification issued by the Department of Revenue says the anti-dumping duty shall remain in force up to and inclusive of August 20, 2012, unless the notification is revoked earlier.
As per the procedure, while the DGAD has the power to recommend the imposition of anti-dumping duty, it is the Department of Revenue which actually imposes it.
The anti-dumping duty on imports of all Fully Drawn or Fully Oriented Yarn/Spin Draw Yarn / Flat Yarn of polyester, originating in, or exported from, Indonesia, South Korea, Malaysia and Taiwan was first imposed in February 2007 by the Department of Revenue, Ministry of Finance.
These yarns are used in weaving and knitting to make fabrics.
The duty was imposed after the Directorate-General of Anti-Dumping and Allied Duties (DGAD) found that low-price imports of yarn from the four Asian nations were harming the domestic industry.
The DGAD had sought extension of the duty for a period of another one year. But the latest notification issued by the Department of Revenue says the anti-dumping duty shall remain in force up to and inclusive of August 20, 2012, unless the notification is revoked earlier.
As per the procedure, while the DGAD has the power to recommend the imposition of anti-dumping duty, it is the Department of Revenue which actually imposes it.
Fibre2fashion News Desk - India
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