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Government imposes Anti-dumping Duty on imports of Flat Base Steel Wheels
An opportunity to globally expand your venture can let you have an edge over others. Besides, it assists in the export promotion that further reinforces the nation’s economy by equilibrating the balance of trade.
Evidently, a unique Import Export Code lets you easily plunge into the global arena where you can find a sea of opportunities to enhance your business growth.
The trade & commerce department has hitherto assisted the export-import businesses across India in doing away with procedural hold-ups in the IEC registration process.
Moreover, the government formulates and amends various policy measures from time-to-time in order to deal with the challenges in India’s international trade. Recently, the finance ministry had decided to stay the safeguard duty on imports of solar panels and built modules imported from China and Malaysia.
As a step forward to assist the indigenous manufacturers, the government has recently sought to levy anti-dumping duty on the imports of Flat Base Steel Wheels.
#1. What is the decision of government regarding imports of Flat Base Wheels?
The finance ministry decided to impose an unconditional anti-dumping duty on the imports of “Flat Base Steel Wheels” that are manufactured in and/or are exported from China, vide Notification No. 46/2018 under Customs head, with effect from 13th September 2018.
#2. What is the period for which the anti-dumping duty has been imposed?
As per the government notification, the anti-dumping duty on Flat Base Wheels imports has been brought into effect for a period of 5 years at the rates specified by the Customs department.
#3. Why is the Anti-dumping Duty charged?
- There are some specific goods that are exported by other nations in India at a price comparatively lower than the price that is prevalent in the exporting nation.
- This can pose a stiff competition to the similar goods of the Indian manufacturers.
- In order to outdo the negative impact of the cheap available imported goods, the Indian government charges an Anti-dumping Duty on the import of such goods.
#4. Why has Anti-dumping Duty been imposed on the import of Flat Base Wheels?
The government has given clarification for its decision to impose Anti-dumping Duty on Flat Base Wheels:-
- In case the anti-dumping duties in force cease to operate, the subject goods (i.e. The Flat Base Wheels) were likely to enter the Indian market at ‘dumped prices’.
- The condition of the domestic industry would then be likely to deteriorate, had the existing anti-dumping duties were removed.
- Moreover, the deterioration of the domestic industry for Flat Base Wheels is largely due to dumped imports from the exporting country.
Hence, the anti-dumping duties are needed to be extended. To know in detail about the complete background of the case, read the .
Surely, this decision will to the utter benefit of the Indian manufacturers of Flat Base Wheels, who can now seamlessly expand their business globally with an IEC registration.
n case you need any guidance on online IEC Registration, feel free to contact us at 8881-069-069.
