GSTnews item8 July 2016

Dumping duty imposed on PTA imports from 5 countries

News Update

Dumping duty imposed on PTA imports from 5 countries

Published Date: Jul 09, 2016
Source: ICAI PD Committee
The Finance Ministry has imposed definitive anti-dumping duty on purified terephthalic acid (PTA) imports from China, Iran, Taiwan, Indonesia and Malaysia. PTA -- a white, free flowing crystalline powder-- is the primary raw material for the manufacture of polyester chips which in turn is used in a number of applications in textiles, packaging, furnishings, consumer goods, resins and coatings. MCC PTA India Corp Pvt Ltd and Reliance Industries Ltd had filed the petition seeking levy of anti-dumping duty on PTA imports from these four countries. Indian Oil Corporation, another producer of PTA, had supported the petition. Based on the recommendations of the designated authority in its final findings, the revenue department has imposed anti-dumping duty that ranged from $83.08 per tonne to $168.76 per tonne depending on the producer and country of export.
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Dumping duty imposed on PTA imports from 5 countries