[PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II SECTION 3, SUB-SECTION (I)]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)

27th  February, 2004

Notificaiton No. 42/2004-Customs

        WHEREAS, in the matter of import into India of Hard Ferrite Ring Magnets falling under Chapter 85 of the First Schedule to the Customs Tariff Act, 1975(51 of 1975), originating in, or exported from, People’s Republic of China (hereinafter referred to as the subject country) the designated authority vide its final findings in review, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 23rd October, 2001, had come to the conclusion that-

(a) Hard Ferrite Ring Magnets exported from the subject country had been exported to India below its normal value;
(b) the domestic industry had suffered material injury by way of depressed Net Sales Realization (NSR) on account of price suppression caused by low landed prices of the dumped Hard Ferrite Ring Magnets from the subject country leading to financial losses;
(c) the injury had been caused to the domestic industry by the dumping of Hard Ferrite Ring Magnets originating in or exported from the subject country and the authority recommended anti-dumping duty on imports of all forms/ grades of Hard Ferrite Ring Magnets falling under Chapter 85 originating in or exported from the subject country; and
(d) it was felt that withdrawal/ discontinuance of anti-dumping duty will further accentuate dumping and consequential injury to the domestic industry.

AND WHEREAS on the basis of aforesaid final findings in review of the designated authority, the Central Government had imposed anti-dumping duty on Hard Ferrite Ring Magnets vide notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 123/2001-Customs dated the 12th December, 2001 published in Part II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary, dated the 12th December, 2001   [G.S.R. 898(E), dated the 12th December, 2001];

  AND, WHEREAS, the Customs, Excise and Service Tax Appellate Tribunal  (hereinafter referred to as Tribunal), in its Final Order No. 12/03-AD dated the 12th September, 2003 has ordered the following modification in notification No. 123/2001-Customs, dated the 12th December, 2001, namely:-

 ‘The present entry under column (3) of the Table to Notification, viz. ” Hard Ferrite Ring Magnet (HFRM) of all grades and sizes including in unmagnetized form” shall be replaced by the entry “Hard Ferrite Ring Magnet (HFRM) of Energy Product (BH max) 2.8 MGOe and above including in unmagnetized form”.’

 AND WHEREAS the designated authority has accepted the said order of Tribunal and has issued a corrigendum dated the 18th December, 2003 vide No. 65/1/2000-DGAD, dated the 18th December, 2003 to the aforesaid final findings in review;

 NOW, THEREFORE, in exercise of the powers conferred by sub-sections (1), (5) and (6) of section 9A of the said Customs Tariff Act, read with rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government, on the basis of the corrigendum issued by the designated authority, hereby makes the following amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue) No. 123/2001-Customs dated the 12th December, 2001, published in the Gazette of India, Extraordinary, Section 3, Sub-section (i) vide No. 898(E), dated the 12th December, 2001, namely:-

        In the said notification, in the Table, against S.No.1, for the entry in column (3), the entry “Hard Ferrite Ring Magnet (HFRM) of Energy Product (BH max) 2.8 MGOe and above including in unmagnetized form” shall be substituted.

   G.S.Karki
Under Ssecretary to  The Government of  India

F.No.356/63/2001-TRU

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