| Date: |
01-08-2014
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| Subject: |
Indian govt imposes anti-dumping duty on PTA import
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The Department of Revenue, under the Ministry of Finance, Government of India, has issued a notification imposing anti-dumping duty on Purified Terephthalic Acid (PTA) ranging between US$ 19.05 per ton to $117.09 per ton, on imports from China, South Korea, Thailand and the European Union. with effect from July 25, 2014.
The anti-dumping duty has been imposed on PTA, including its variants Medium Quality Terephthalic Acid (MTA) and Qualified Terephthalic Acid (QTA) falling under tariff item 2917 36 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975).
In its preliminary findings, issued vide notification No. 14/7/2013-DGAD dated 19th June, 2014, the Directorate General of Anti dumping and Allied Duties (DGAD), had come to the conclusion that (a) the PTA have been exported to India from China, EU, Korea & Thailand below their normal value thus resulting in the dumping; (b) the domestic industry has suffered material injury due to dumping of the PTA from the said countries; and (c) the material injury has been caused by the dumped imports from the said countries.
The designated authority in its findings had recommended imposition of provisional anti-dumping duty on the PTA, originating in or exported from China, EU, Korea & Thailand and imported into India, in order to remove injury to the domestic industry.
Hence, in exercise of the powers conferred by sub-section (2) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rules 13 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Government of India has imposed a duty of US$ 62.82 per metric tonne (mt) on PTA imported or originating from China.
For PTA manufactured by South Korea-based Samsung General Chemical Co. Ltd. and Taekwang Industrial Co. Ltd., the duty would be $29.86 per mt and $19.05 per mt, respectively. PTA manufactured by all other South Korean companies would attract a duty of $117.09 per mt, according to the notification.
PTA manufactured and exported by Thailand-based Indorama Petrochem Ltd. and TPT Petrochemicals Public Limited would attract duty at the rate of $27.49 per mt, while all other PTA manufactured in Thailand would need to pay $99.51 per mt.
A duty of $23.75 per mt would be levied on PTA originating or exported from the European Union, as per the notification.
The anti-dumping duty would be levied for a period not exceeding six months (unless revoked, amended or superseded earlier) from July 25, 2014, and would be payable in Indian currency.
Source:- fibre2fashion.com