Govt Imposes 12% Safeguard Duty on Certain Steel Products for 200 Days

India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from a surge in imports.

- AGENCIES

The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty.

"...the Central Government after considering the said findings of the Director General (Trade Remedies), hereby imposes a provisional safeguard duty at the rate of twelve per cent ad valorem," according to a notification of the Department of Revenue.

It said that the safeguard duty imposed under this notification shall be effective for a period of 200 days (unless revoked, superseded or amended earlier) from the date of publication of this notification.