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The ministry also found that domestic industry has suffered heavy losses due to dump imports from these countries. It states that domestic industry has suffered physical damage due to dump imports of such goods from China and Taiwan.
India has now given a befitting reply to the Chalteers of China. The Modi government has taken concrete steps that can shake the roots of Beijing directly. India has hit anti -dumping duty for five years on plastic processing machines coming from China and Taiwan. Now China will not only get a big shock in business but it is a step towards India’s self -sufficiency. According to the Gazette notification, the Finance Ministry found that such items were exported to India at dump prices from these two countries. The ministry also found that domestic industry has suffered heavy losses due to dump imports from these countries. It states that domestic industry has suffered physical damage due to dump imports of such goods from China and Taiwan.
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The Finance Ministry has recommended the imposition of anti -dumping duty on imports of domestic industry, exported or imported into India and imported in India. Depending on the country of origin, the country of exports and producers, the anti -dumping fee is between 27 percent to 63 percent of the CIF price of such goods. The leveled anti -dumping fee will be levied for a five -year period from the date of publication of the notification (until it is first canceled, replaced or modified). Anti -dumping fees will be payable in Indian currency.
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In simple terms, anti-dumping duty is tax levied on imported goods, which are levied to compensate the difference between their export price and their normal value, if dumping causes damage to the producers of competitive products in the imported country.
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