The Central Board of Indirect Taxes and Customs (CBIC) has notified the levy of anti-dumping duty (ADD) on ‘Ursodeoxycholic Acid (UDCA)’ falling under Chapter 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in or exported from China PR and Korea RP and imported into India.
Ursodeoxycholic acid is a medication used in the management and treatment of cholestatic liver disease.
As per the notification issued by the Board on 19th August, the designated committee has recommended imposition of provisional anti-dumping duty on imports of the subject goods, originating in, or exported from the subject countries and imported into India, in order to remove injury to the domestic industry.
“Now, therefore, in exercise of the powers conferred by sub-section (2) of section 9A of the Customs Tariff Act read with rules 13 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government, on the basis of the aforesaid preliminary findings of the designated authority, hereby imposes on the subject goods, the description of which is specified in column (3) of the following Table, falling under the Chapter of the First Schedule to the Customs Tariff Act as specified in the corresponding entry in column (2), originating in the countries as specified in the corresponding entry in column (4), exported from the countries as specified in the corresponding entry in column (5), produced by the producers as specified in the corresponding entry in column (6), and imported into India, a provisional antidumping duty at a rate equal to the difference between the landed value of subject goods and the amount specified as reference price in the corresponding entry in column (7), provided that the landed value is less than the amount indicated in column (7), in the currency as specified in the corresponding entry in column (9) and as per unit of measurement as specified in the corresponding entry in column (8) of the said Table,” the Board said.
The notification further stated that the provisional anti-dumping duty imposed under this notification shall be effective for a period of six months, unless revoked, amended or superseded earlier, from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency.
“For the purposes of this notification, rate of exchange applicable for the purposes of calculation of the anti-dumping duty shall be the rate which is specified in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and the relevant date for the determination of the rate of exchange shall be the date of presentation of the bill of entry under section 46 of the said Customs Act,” it said.
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