New Delhi: DGTR, the investigation arm of the commerce ministry, has recommended continuation of countervailing or anti-subsidy duty on Chinese chemicals used in pesticides for five more years to protect domestic players.
In a notification, the Directorate General of Trade Remedies (DGTR) has said that this case requires continuation and modification of the existing duty on import of 'Atrazine Technical'.
“The authority considers it appropriate and necessary to recommend continuation of the fixed fee for a period of five years,” the DGTR said.
The directorate has recommended imposing duty on the product up to 11.94 percent.
The final decision to impose this fee is taken by the Finance Ministry.
In its investigation, the DGTR concluded that the existing duties have allowed more Indian producers to enter the market and helped the domestic industry to expand its capacity.
A domestic manufacturer had filed an application for definitive review of the existing duties, which were imposed to counter subsidies given to producers of this chemical by China.
According to the notification, the applicant has demanded to increase the duty on imports.
Indian players were suffering losses due to subsidized exports.
The Revenue Department had imposed the fee in September 2019.
Subsidized exports affect the price of that product in the importing country, which affects the margins and profits of manufacturing companies.
As per global trade norms, a country is allowed to impose countervailing or anti-subsidy duties on such imports.
In a notification, the Directorate General of Trade Remedies (DGTR) has said that this case requires continuation and modification of the existing duty on import of 'Atrazine Technical'.
“The authority considers it appropriate and necessary to recommend continuation of the fixed fee for a period of five years,” the DGTR said.
The directorate has recommended imposing duty on the product up to 11.94 percent.
The final decision to impose this fee is taken by the Finance Ministry.
In its investigation, the DGTR concluded that the existing duties have allowed more Indian producers to enter the market and helped the domestic industry to expand its capacity.
A domestic manufacturer had filed an application for definitive review of the existing duties, which were imposed to counter subsidies given to producers of this chemical by China.
According to the notification, the applicant has demanded to increase the duty on imports.
Indian players were suffering losses due to subsidized exports.
The Revenue Department had imposed the fee in September 2019.
Subsidized exports affect the price of that product in the importing country, which affects the margins and profits of manufacturing companies.
As per global trade norms, a country is allowed to impose countervailing or anti-subsidy duties on such imports.
