NEW DELHI: India will continue to levy a special duty on polyester films imported from Chinese Taipei and United Arab Emirates for another five years. It had imposed the anti-dumping duty on the product in 2004 to save domestic polyester films industry from cheap imports.
The Central Board of Excise and Customs (CBEC), the apex body for indirect taxes, issued an order to levy anti-dumping duty on polyester films from Chinese Taipei and United Arab Emirates (UAE). An anti-dumping duty is a penalty imposed on abnormally low-price imports so that their prices pair with same products produced domestically.
The move will give substantial relief to domestic manufacturer Garware Polyester, the largest producer of polyester films in the country. Various grades of polyester films are used for reducing heat or light transmission through motor vehicle windows and house windows.
The duty levied is equivalent to the extent of dumping (the price difference between domestically produced polyester films and imported films).
The Directorate General of Anti-dumping and allied Duties (DGAD) had initiated a review of the duty in August last. The duty was imposed in 2004.
Source : The Economic Times