The Ministry of Steel has brought cold reduced low carbon sheets and strips and cold rolled strips under the quality control order vide order dated 18th December 2015.
The Government had notified anti-dumping duty vide Notification No. 61/2015-Customs (ADD) on imports of Cold Rolled Stainless Steel Flat products. The duty rates vary from 4.58% to 57.39% depending on the country and producer.
There are different rates of duty applicable to different countries. The duty rates vary from 4.58% applicable on exports from Thailand to 57.39% on any exports from China.
In order to protect and promote the domestic steel industry the Government has taken following measures:-
Increased the peak rate of basic customs duty on both flat and non-flat steel to 15% from 10%.
Increased the import duty on flat rolled steel @ 10% on long and semi finished products.
Levied the Anti-Dumping Duty on imports of certain variety of hot-rolled flat products of stainless steel from China.
Levied the Anti-Dumping Duty for five years on imports of cold rolled Flat products of stainless steel.
Government has notified Minimum Import Price (MIP) to provide a level playing field to domestic producers against the injury caused as evident from the decline in margins of the producers.
Imposed the Safeguard Duty of 20% on hot-rolled flat products of non-alloy and other alloy steel, in coils.
