|27 Jul 2015||Initiation|
ANNOUNCED AS TEMPORARYNo
On September 7th, 2015, the Indian Directorate General of safeguards initiated a safeguard investigation on imports of hot-rolled flat products of non-alloy and other alloy steel in coils of a width of 600 mm or more.
The products subject to investigation are classified under HS code subheading 7208 and HS code 7225.3090.
This follows the application lodged on July 27th, 2015 by M/S Steel Authority of India Limited, M/S Essar Steel India Limited and M/S JSW Steel Limited.
According to the UN Comtrade Database, in 2014 the following countries exported goods classified under HS code subheadings 7208 and 7225.30 to India with a trade value over the GTA threshold of USD 1 million: South Korea, Japan, China, Ukraine, Brazil, Russia, Iran, Germany, France, Italy, Turkey, Austria, Belgium, Romania, Indonesia, Chinese Taipei, Saudi Arabia, South Africa, the United Arab Emirates, the United States of America and Sweden.
On September 9th, 2015, the Indian Directorate General of Safeguards, issued its preliminary findings and recommended the imposition of a provisional safeguard duty of 20% for 200 days on imports of the above-mentioned goods.
On September 14th, 2015, the Indian Ministry of Finance issued the Customs Notification imposing this provisional safeguard duty (Notification No. 2/2015-Customs (SG), 14.09.2015). As recommended by the Indian Directorate General of Safeguards, the rate of this provisional duty is 20%. This measure is effective for a period of 200 days.
On 29 March 2016, the Indian Ministry of Finance issued the Customs Notification imposing a definitive safeguard duty (Notification No. 01/2016-Customs (SG), 29.03.2016). The rate of the duty is 20% (minus anti-dumping duty payable, if any) from 14 September 2015 for one year, 18% from 14 September 2016 for six months (minus anti-dumping duty payable, if any), 15% from 14 March 2017 for six months (minus anti-dumping duty payable, if any) and 10% 14 September 2017 for six months (minus anti-dumping duty payable, if any).
On 5 August 2016, the Indian Ministry of Finance issued the Customs Notification amending Notification No. 01/2016-Customs (SG) to prescribe import prices on CIF basis (Notification No. 02/2016-Customs (SG), 05.08.2016). In doing so the above definitive safeguard duty is not applicable if the goods imported into India are at or above the import prices on CIF basis. The import price on a CIF basis is USD 445 or 500 per metric tonne depending on the specific HS code subheading.
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