Safeguard Duty Imposed on Steel Flat Products to Protect Domestic Industry Under Section 8B of Foreign Trade Act https://www.taxtmi.com/highlights?id=87730 The GoI's Ministry of Finance issued a notification imposing a provisional 12% ad valorem safeguard duty on "Non-Alloy and Alloy Steel Flat Products" imported into India. The duty is based on DG (Trade Remedies) findings of a sudden, significant import increase causing serious injury to domestic industry. The safeguard measure applies to specific steel product categories under tariff headings 7208-7212 and 7225-7226, with exemptions for certain steel types and imports from designated developing countries. The provisional duty will be effective for 200 days from the notification's publication, with specific CIF price thresholds determining duty applicability for different steel product subcategories. en-us Thu, 24 Apr 2025 11:06:07 +0530 Thu, 24 Apr 2025 11:06:07 +0530 TaxTMI RSS Generator Safeguard Duty Imposed on Steel Flat Products to Protect Domestic Industry Under Section 8B of Foreign Trade Act https://www.taxtmi.com/highlights?id=87730 The GoI's Ministry of Finance issued a notification imposing a provisional 12% ad valorem safeguard duty on "Non-Alloy and Alloy Steel Flat Products" imported into India. The duty is based on DG (Trade Remedies) findings of a sudden, significant import increase causing serious injury to domestic industry. The safeguard measure applies to specific steel product categories under tariff headings 7208-7212 and 7225-7226, with exemptions for certain steel types and imports from designated developing countries. The provisional duty will be effective for 200 days from the notification's publication, with specific CIF price thresholds determining duty applicability for different steel product subcategories. Highlights Customs Thu, 24 Apr 2025 11:06:07 +0530 https://www.taxtmi.com/highlights?id=87730