Business Line reported that the Finance Ministry has imposed safeguard duty on imports of electrical insulators from China for a period of 2 years.
This move follows the recommendation of director general in its final findings in September this year.
The petition seeking safeguard duty on imports of electrical insulators from China was filed by Aditya Birla Nuvo Ltd, WS Industries Ltd, Insulators and Electrical Company, and Modern Insulators. BHEL supported the petition.
The major users of electrical insulators in India are the central power sector, State electricity Boards, private sector power transmission companies, Railways and telecom sector.
The revenue department has now imposed safeguard duty of 35% for the first year from the date of notification till completion of one year.
The applicable safeguard duty for the second year is 25%. For the purpose of this levy, second year will mean time period after the completion of the said one year, till December 31st 2013. Simply put, the validity of safeguard duty for the second year will only be for 10 days. This is because the Finance Ministry notification for levy of safeguard duty was issued on December 20th this year.
Source:
http://www.steelguru.com/indian_news/Safeguard_duty_imposed_on_electrical_insulators_from_China/296845.html
