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India: Dumping duty on acetone imports extended by 1 more year
24/07/2012 12:00
The Finance Ministry has extended by one more year the validity of anti-dumping duty on acetone imports from the European Union, South Africa, Singapore and the US.
The existing anti-dumping duty on acetone imports from these countries will now be valid until June 18, 2013, the Revenue Department has said. The duty was valid till June 18, 2012.
This extension follows the initiation of the sunset review by the Designated Authority in the Commerce Ministry in June this year.
Hindustan Organic Chemicals Ltd had filed an application seeking review and continuation of anti-dumping duty on acetone imports from the European Union, Singapore, South Africa and the US.
Acetone is an organic chemical used in the manufacture of bulk pharmaceuticals, agro-chemicals, dyestuffs, certain explosives and downstream chemicals.
It is also used in the manufacture of alcohol, certain rubber chemicals and Bisphenol-A. Acetone is a colorless liquid with an agreeable ether-like odour. It is used in numerous organic syntheses either as solvent or as an intermediate.
The Finance Ministry had in March 2008 levied definitive anti-dumping duty on acetone imports from the European Union, South Africa, Singapore, Taiwan and the US.
The definitive duty was valid for a period of five years from June 19, 2007, which was the date of imposition of provisional anti-dumping duty.
The existing anti-dumping duty on acetone imports from these countries will now be valid until June 18, 2013, the Revenue Department has said. The duty was valid till June 18, 2012.
This extension follows the initiation of the sunset review by the Designated Authority in the Commerce Ministry in June this year.
Hindustan Organic Chemicals Ltd had filed an application seeking review and continuation of anti-dumping duty on acetone imports from the European Union, Singapore, South Africa and the US.
Acetone is an organic chemical used in the manufacture of bulk pharmaceuticals, agro-chemicals, dyestuffs, certain explosives and downstream chemicals.
It is also used in the manufacture of alcohol, certain rubber chemicals and Bisphenol-A. Acetone is a colorless liquid with an agreeable ether-like odour. It is used in numerous organic syntheses either as solvent or as an intermediate.
The Finance Ministry had in March 2008 levied definitive anti-dumping duty on acetone imports from the European Union, South Africa, Singapore, Taiwan and the US.
The definitive duty was valid for a period of five years from June 19, 2007, which was the date of imposition of provisional anti-dumping duty.
New Delhi, July 21, 2012
By K. R. Srivats
Source: thehindubusinessline.com
By K. R. Srivats
Source: thehindubusinessline.com
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