Revenue dept for 10% duty on PAN imports

The Revenue Department has recommended a 10 per cent safeguard duty on the import of Phthalic Anhydride (PAN), a chemical intermediate used by plastic industry, to protect its domestic producers from surge in shipments. "It will be in the public interest to impose safeguard duty on imports of PAN (Phthalic Anhydride) into India...For a period of one year," the Directorate General (safeguards) said, while recommending a 10 per cent ad-valorem safeguard duty on the imports from January, 2012.