Union Government imposed anti-dumping duty on plastic-processing imports
The duty will be levied on all kinds of plastic-processing machines imported from Chinese Taipei, Malaysia, the Philippines and Vietnam.
Union Government on 15 March 2016 imposed anti-dumping duty of up to 44.7 percent on import of plastic-processing machines for five years. It will be implemented on the imports from Chinese Taipei, Malaysia, the Philippines and Vietnam.
The duty will be levied on all kinds of plastic-processing or injection-moulding machines, also known as injection presses.
According to Central Board of Excise and Customs (CBEC), the safeguard duty was imposed after it was noticed that these imports from other countries led to deterioration of performance of the domestic industry.
Country wise levied charges
• Anti-dumping duty of 27.98 percent has been imposed on plastic-processing machines imported from Chinese Taipei.
• Safeguard duty of 44.74 percent and 30.85 percent has been imposed for the same products imported from Malaysia and the Philippines.
• Imports from Vietnam will attract a levy of 23.15 percent.
Plastic-processing or injection-moulding machines are used for processing or moulding plastic materials.
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.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App