No anti-dumping duty on fiber boards from 4 countries: Revenue Service
The government decided not to impose anti-dumping duties on imports of a certain type of fiberboard, used to make furniture and cabinets, from Vietnam, Malaysia, Thailand and Indonesia, in accordance with a memorandum from the Ministry of Revenue.
The investigation department of the Ministry of Commerce, DGTR, recommended in April the imposition of a duty for five years on “ordinary medium density fibreboard less than 6 mm thick” after concluding in an investigation that the domestic industry was affected as a result of the dumping of goods from these countries. .
The Trade Remedies Directorate (DGTR) has suggested a fee in the range of $ 227.47 to $ 258.42,944 per cubic meter.
The investigation was conducted following a complaint from domestic manufacturers.
While management recommends these obligations, the Ministry of Revenue makes the final decision to impose them.
“The central government has decided not to impose anti-dumping duties on imports of medium density plain fibreboard less than 6mm thick originating in or exported from Vietnam, Malaysia, Thailand and Indonesia … “, says the memorandum.
In international trade parlance, dumping occurs when a country or company exports an item at a price lower than the rate for that product in the domestic market.
Dumping has an impact on the price of this product in the importing country, affecting the margins and profits of domestic manufacturing companies.
According to global trade standards, a country is allowed to impose tariffs on these dumped products in order to provide a level playing field for domestic manufacturers.
The duty is only imposed after a thorough investigation by a quasi-judicial body, such as the DGTR in India. The imposition of anti-dumping duties is permitted under the World Trade Organization (WTO) regime.
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