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The Finance Ministry has imposed provisional safeguard duty of 20 per cent on imports of hot-rolled flat products of stainless steel (304 grade) from China.
This duty will be valid for a period of 200 days with effect from January 4 this year.
The application seeking safeguard duty on imports of hot-rolled flat products of Stainless Steel (of 300 series) from China was filed by Jindal Stainless Ltd.
Jindal Stainless Ltd accounts for more than 80 per cent of the total production of hot-rolled flat products of stainless steel.
The Revenue Department move follows the Director-General (Safeguards) recommendation in September this year to impose specific safeguard duty of 20 percent on hot rolled flat products of stainless steel (304 grade).
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