CBIC extends CVD on Copper Wire Rod Imports from Indonesia, Malaysia, Vietnam, and Thailand to 7th July 2025 [Read Notification]
The amendment extends the imposition of the countervailing duty until July 7, 2025, unless an earlier revocation, supersession, or further amendment is made.
CBIC extends CVD – Copper Wire Rod Imports – TAXSCAN1
CBIC extends CVD – Copper Wire Rod Imports – TAXSCAN1
The Central Board of Indirect Taxes and Customs ( CBIC ) has extended the countervailing duty on import of Cast Copper Wire Rod from Indonesia, Malaysia, Thailand, and Vietnam until July 7th 2025.
On June 29, 2024, the Directorate General of Trade Remedies ( DGTR ) issued Notification No. 07/07/2024-DGTR, initiating a review of the countervailing duties imposed on the import of Continuous Cast Copper Wire Rod from Indonesia, Malaysia, Thailand, and Vietnam. The government has extended the CVD until 7th July 2025.
This review is conducted under the authority of sub-section (6) of Section 9 of the Customs Tariff Act, 1975, and Rule 24 of the Customs Tariff (Identification, Assessment, and Collection of Countervailing Duty on Subsidized Articles and for Determination of Injury) Rules, 1995.
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These duties, initially imposed through the Ministry of Finance Notification No. 1/2020-Customs (CVD) on January 8, 2020, aim to counteract the effects of subsidies provided by the subject countries, which negatively affect the Indian copper industry by making imports more competitive than domestically produced copper wire rods.
The countervailing duty in question applies to Continuous Cast Copper Wire Rod falling under tariff heading 7408, originating from the subject countries. This product is a critical material used across several industries, including electrical, telecommunications, and manufacturing sectors.
The original imposition of this duty followed an extensive investigation by the DGTR, which concluded that the subsidies provided by Indonesia, Malaysia, Thailand, and Vietnam were detrimental to Indian producers, resulting in significant injury to the domestic industry.
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In accordance with the powers vested in the Central Government by sub-sections (1) and (6) of Section 9 of the Customs Tariff Act, along with Rules 20 and 24 of the said rules, the government has amended the original notification (No. 1/2020-Customs (CVD)). The amendment extends the imposition of the countervailing duty until July 7, 2025, unless an earlier revocation, supersession, or further amendment is made.
To Read the full text of the Order CLICK HERE
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