The three-member Bench of the Customs, Excise and Service Tax Appellate Tribunal has set aside the levy of definitive anti-dumping duty on truck/bus radial tyres and tubes imported from China and Thailand. The verdict would hopefully provide relief to radial tyre users in the country.
All India Tyre Dealers' Federation (AITDF) hailed the Tribunal decision. In a statement AITDF said that ever since the anti-dumping duty of $32 to $90 per tyre was clamped, import of truck/bus radials had crashed in the replacement market that relies heavily on Chinese and Thai products.
Domestic tyre prices had soared in the last 18 months, since January, though natural rubber prices had come down significantly from the peak of Rs 243 a kg on 5th April to Rs 203.50 a kg. The Federation hoped that in the coming weeks the import of truck/bus radials would gain momentum to revert to the pre-anti-dumping duty levels.
Read lot more in Rubber4U – 15th August 2011 issue
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