CBIC extends the levy of countervailing duty on “Continuous Cast Copper Wire Rod” originating in or exported from Indonesia, Malaysia, Vietnam and Thailand vide Notification No. 06/2024-Customs (CVD) | Dated: 4th October, 2024
Central Board of Indirect Taxes and Customs (CBIC) has extended the levy of countervailing duty (CVD) on imports of “Continuous Cast Copper Wire Rod” originating from Indonesia, Malaysia, Vietnam, and Thailand until July 7, 2025. This extension follows a review initiated by the Directorate General of Trade Remedies (DGTR) under sub-section (6) of section 9 of the Customs Tariff Act, 1975, as per Notification No. 07/07/2024-DGTR dated June 29, 2024. The original imposition of CVD was established through Notification No. 1/2020-Customs (CVD), dated January 8, 2020. The review aimed to assess whether the countervailing duty should continue to prevent injury to the domestic industry from subsidized imports. As a result, the government decided to extend the duty, which will remain in force unless revoked, superseded, or amended earlier. This move is part of the government’s ongoing efforts to ensure a level playing field for domestic producers against unfair international trade practices, particularly concerning subsidized goods.
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 06/2024-Customs (CVD) | Dated: 4th October, 2024
G.S.R. 608(E).—Whereas, the designated authority vide initiation notification No. 07/07/2024-DGTR dated 29th June, 2024, published in the Gazette of India, Extraordinary, Part I, section 1, dated the 29th June, 2024, has initiated review in terms of sub-section (6) of section 9 of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act) read with rule 24 of the Customs Tariff (Identification, Assessment and Collection of Countervailing Duty on Subsidized Articles and for Determination of Injury) Rules, 1995 (hereinafter referred to as the said rules), in the matter of continuation of countervailing duty on imports of “Continuous Cast Copper Wire Rod” (hereinafter referred to as the subject goods) falling under heading 7408 of the First Schedule to the Customs Tariff Act, originating in or exported from Indonesia, Malaysia, Thailand and Vietnam (hereinafter referred to as the subject countries), imposed vide notification of the Government of India, in the Ministry of Finance (Department of Revenue) No. 1/2020-Customs (CVD), published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide number G.S.R. 18(E), dated the 8th January, 2020, and has requested for extension of the said countervailing duty in terms of sub-section (6) of section 9 of the Customs Tariff Act.
Now, therefore, in exercise of the powers conferred by sub-sections (1) and (6) of section 9 of the Customs Tariff Act, read with rules 20 and 24 of the said rules, the Central Government hereby makes the following amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue) No. 1/2020-Customs (CVD), published in the Gazette of India, Extraordinary, Part II, section 3,sub-section (i), vide number G.S.R. 18(E), dated the 8th January, 2020, namely:-
In the said notification, after paragraph 2 and before the Explanation, the following paragraph shall be inserted, namely:-
“3. Notwithstanding anything contained in paragraph 2, the countervailing duty shall remain in force up to and inclusive of the 7th July, 2025, unless revoked, superseded or amended earlier.”.
[F. No. 190354/143/2024-TRU]
DILMIL SINGH SOACH, Under Secy.
Note : The principal No. 1/2020-Customs (CVD) was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R. 18(E), dated the 8th January, 2020
