Union Government imposed anti-dumping duty on plastic-processing imports
Posted on:16 Mar 2016 17:54:04
Free Current Affairs to Your Email
16 March 2016 Current Affairs: 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.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.
FreshersLive - No.1 Job site in India. Here you can find latest 2018 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail.