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Govt imposes additional tax on some Chinese stainless steel imports

Govt imposed 19% countervailing duty on some hot-rolled, cold-rolled stainless steel flat products

Reuters  |  New Delhi 

India has imposed an additional import tax on certain stainless steel flat products from China for five years in order to curb influx of cheaper foreign imports, a government statement said on Friday. The government imposed 18.95 per cent countervailing duty on some hot-rolled and cold-rolled stainless steel flat products, a first such levy on a steel product. This is aimed at helping local steel makers benefit when there is surge in imports, it said. "This would provide the much-needed relief to the stainless steel industry from the subsidized imports from China," the ...

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First Published: Fri, September 08 2017. 17:05 IST