Certain grades of stainless steel has been exempted from the duty. Photo: BloombergNew Delhi: India imposed anti-dumping duty on some cold-rolled flat products of stainless steel from China, the US, South Korea and the European Union, to curb the influx of cheaper imports and help local producers. The duty, which will be in effect until 10 December 2020, exempts certain grades of stainless steel, an official notification said. Earlier this month, the government imposed an anti-dumping duty on the import of some flat steel products from China and the European Union for five years. Last month, the government imposed an additional 18.95% countervailing duty on some hot-rolled and cold-rolled stainless steel flat products, a first such levy on a steel product.

Source: Mint October 25, 2017 20:37 UTC