Govt soon to take decision on imposing safeguard duty on steel import: Revenue Secy
Updated: Aug 21, 2015 04:15:22pm
New Delhi, Aug 21 (KNN) There will not be any delay in taking decision regarding imposition of safeguard duty on import of steel if the Directorate General of Safeguards recommends restrictive duty, Revenue Secretary Shaktikanta Das said today.
The steel industry in India has been raising concerns over increasing cheap imports from China, which after Yuan devaluation has further added to their worries.
Some of the industry players have approached Directorate General of Safeguards for imposition of safeguard duty on the import.
"Already in steel, as far as I know, some applications have been filed and those are under consideration of DG Safeguards. He has to examine the applications. They will be examined very expeditiously.
"There will not be any delay in this matter and as soon as a report comes (from DG Safeguards), the government will take a decision on this matter," Das told reporters on the sidelines of a PHD function here.
The secretary further said that safeguard duty is not related to some other country's currency devaluation and is linked to a sudden surge in import.
When asked if there is a case for safeguard duty, Das said he cannot pass a judgement.
"DG Safeguards is the competent authority. He has to examine the entire matter based on statistical evidence. Once the DG concludes the investigation and gives the report, then only government will take a decision," he said. (KNN Bureau)
The steel industry in India has been raising concerns over increasing cheap imports from China, which after Yuan devaluation has further added to their worries.
Some of the industry players have approached Directorate General of Safeguards for imposition of safeguard duty on the import.
"Already in steel, as far as I know, some applications have been filed and those are under consideration of DG Safeguards. He has to examine the applications. They will be examined very expeditiously.
"There will not be any delay in this matter and as soon as a report comes (from DG Safeguards), the government will take a decision on this matter," Das told reporters on the sidelines of a PHD function here.
The secretary further said that safeguard duty is not related to some other country's currency devaluation and is linked to a sudden surge in import.
When asked if there is a case for safeguard duty, Das said he cannot pass a judgement.
"DG Safeguards is the competent authority. He has to examine the entire matter based on statistical evidence. Once the DG concludes the investigation and gives the report, then only government will take a decision," he said. (KNN Bureau)
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