Indian Government Extends Safeguard Duty on HRC till Mar’18

Safeguard duty extended till Mar’18, but not applicable on cargo imported at or above Minimum Import Price (MIP).

After the DG Safeguards’ recommendation on 16 Mar’ 16, to continue safeguard duty on HRC till March 2018, the government has finally given its approval on the same.

It is decided to continue safeguard duty on ‘Hot Rolled Flat products of non-alloy and other alloy Steel in coils of width of 600mm or more’. However, varying duty structure is recommended for each year till March 2018 which are as follows:

However it has been notified that the safeguard duty shall not be imposed on the goods which are imported at or above MIP price. This means that if MIP is imposed till 4 Aug’16, steel products can be imported at MIP price without safeguard duty.

Also HRC import from all developing countries except China and Ukraine will not attract any safeguard duty. The reason being HRC imports from developing nations accounts for less than 9% of the total HRC imports.

Products Excluded from Safeguard duty

1. Hot-rolled flat products of steel with nominal width less than 600 mm
2. API grade steel
3. Silicon electrical steel
4. Hot-rolled flat products of steel of spring steel quality
5. Hot-rolled flat products of steel which are electrolytically plated or coated    with zinc
6. Hot-rolled flat products of steel otherwise plated or coated with zinc
7. Hot-rolled flat products of stainless steel

Notification attached