The provisional anti-dumping duty would be equal to the difference between benchmark price set by Directorate General of Anti Dumping and Allied Duties (DGAD) and landed price of the product imported from China, a notification said.
The DGAD has recommended the anti-dumping duty to the Commerce Ministry to check the damage to the domestic industry.
"The domestic industry has suffered material injury,"DGAD said, adding the injury has been caused by the dumpedimports from China. Acting on an application from the domestic players, DGADhad initiated the investigation into dumping of the yarn from China.
The country has already imposed anti-dumping duty onseveral products imported from China including fabrics, colourpicture tubes, nylon tyre cord and several stainless steel products.
Tax experts say valuation of shares is a grey area and may lead to litigation
India had consumed 66.8 MT steel during corresponding period last fiscal