News Update

Vizag DRI sleuths seize 1161 kg Ganja concealed under gravel material being transported by lorryBefore GST roll-out Union of India to scrap 16 Cesses of Excise and Service Tax; to cost Rs 65,000 Crore to ExchequerPMs constituency Varanasi to host third G-20 Framework Working Group meeting on WednesdayIndian Navy to de-induct Long-Range Maritime Patrol Aircraft after 29 yearsCBI Court convicts former Oriental Bank Manager & othersST - Claim for exclusion of amounts on basis of acting as pure agent can be made only if all conditions for such concept are fulfilled: CESTATCBEC to be renamed as CBIC; to have 101 GST Commissionerates, including 50 Appeals CommissioneratesApplications invited for First Secretary (Legal) at PMI at WTO, GenevaPangs of GST - Govt sets up Working Groups to address peculiar problems of industryCX - Annual Production Capacity - Actual Production vs deemed production - Legal Fiction vs Presumption - Supreme Court refers matter to Larger BenchCBDT directs officers to grant interest waiver in certain casesOROP - Pension to be reviewed every 5 yearsIncome Tax searches lead to seizure of Rs 3625 CroreUnclaimed Deposits in Banks & Insurance Companies exceed Rs 8000 CroreCST compensation to States: Centre to release Rs 5834 Crore before Mar 31CCI imposes Rs 51K penalty on Kerala MP heading film association as PresidentCX - Any relief under doctrine of promissory estoppel can be enforced only in hands of Courts - Tribunal cannot arrogate to itself such powers: CESTAT4.5% Indians suffer from depression: MinisterDelhi Insurance Ombudsman Office gets ISO certificationCommissionerates fail to pay court fee stamp - CBEC releases ListGST Bills copies being printed; to be tabled on MondayTrump's attempt to substitute Obamacare failsGovt approves nine FDI proposals involving proposal worth Rs 659 CroreCustoms Duty on Sunflower seeds (1206 0090) for the purpose of extraction and refining of oil reduced to 10% for the period 1st April 2017 to 30th September 2017GST high on Alcohol Manufacturing IndustrySFO in UK doing well to deal with foreign bribery casesIndian Cement Industry accounts for only 7% of global needsI-T - Excess stock found during survey which did not belong to assessee but to its Karta in his individual capacity, cannot be added to assessee's closing stockCX - It is 'nature of order' of Tribunal and not 'scope of appeal' that determines maintainability: HCCus - DRI officials at wedding premises - Calling payments as voluntary is turning a blind eye to harsh realities: HCST - Since CESTAT has remanded matter, it cannot be said that any substantial question of law would arise for consideration: HC
Untitled Document

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF EXCISE AND CUSTOMS
NEW DELHI

NOTIFICATION NO

3/2016-Customs(SG), Dated: November 23, 2016

Whereas, in the matter of import of "Hot Rolled flat sheets and plates (excluding hot rolled flat products in coil form) of alloy or non-alloy steel having nominal thickness less than or equal to 150mm and nominal width of greater than or equal to 600mm" (hereinafter referred to as the subject goods), falling under heading 7208 or tariff items 7225 40 13, 7225 40 19, 7225 40 20, 7225 40 30 and7225 99 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), the Director General (Safeguard), in his final findings, published vide number G.S.R. 759(E), dated the 2nd August, 2016 in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated the 2nd August, 2016 had come to the conclusion that increased imports of subject goods into India has caused and threatened to cause serious injury to the domestic producers of subject goods, thereby necessitating the imposition of safeguard duty on imports of the subject goods into India;

Now, therefore, in exercise of the powers conferred by sub-section (1) of section 8B of the Customs Tariff Act, read with rules 12, 14 and 17 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, the Central Government, after considering the said findings of the Director General (Safeguards), hereby imposes on subject goods falling under heading 7208 or tariff items 7225 40 13, 7225 40 19, 7225 40 20, 7225 40 30 and7225 99 00 of the First Schedule to the Customs Tariff Act, when imported into India, a safeguard duty at the following rate, namely:-

(a) ten per cent ad valorem minus anti-dumping duty payable, if any, when imported during the period from 23rd November, 2016 to 22nd November, 2017 (both days inclusive) at an import price below US Dollar 504 per MT on CIF basis;

(b) eight per cent ad valorem minus anti-dumping duty payable, if any, when imported during the period from 23rd November, 2017 to 22nd November, 2018 (both days inclusive) at an import price below US Dollar 504 per MT on CIF basis; and

(c) six per cent ad valorem minus anti-dumping duty payable, if any, when imported during the period from 23rd November, 2018 to 22nd May, 2019 (both days inclusive) at an import price below US Dollar 504 per MT on CIF basis.

2. Nothing contained in this notification shall apply to imports of subject goods from countries notified as developing countries under clause (a) of sub-section (6) of section 8B of the Customs Tariff Act, except People’s Republic of China, Ukraine and Indonesia.

Explanation 1. The following are not included in the scope of subject goods:

a) Hot rolled flat products of stainless steel;

b) API grade steel conforming to X-52 and higher API grades for manufacturing pipes used for pipeline transportation systems in the petroleum and natural gas industries;

c) Hot rolled plates for manufacturing boilers and pressure vessels confirming to IS 2002 and IS 2041 or its equivalent specifications SA515 ,SA516, SA537, SA285, SA299 ;

d) The grades JIS Standard G3106:2008, SM 400C, SM 490C, SM 570, JIS G3101: 2015, SS400, SS 490, the Specific alloy steel grades SA203, SA302, SA533, SA537, SA542,15Mo3, 20MnMoni55, 9Cr1Mo and atmospheric corrosion resisting steels grades JIS G312522, CORTEN23, ASTM A 24224, ASTM A 58825 and ASTM A 60626;

e) Steel plates that satisfy reduction ratio of 1:3 and are above 85mm in thickness;

f) Special grade material of steel C 45, P 20, 4140 grade;

g) Silicon electrical steel;

h) Cladded steel;

i) Quenched and tempered steel;

Explanation 2. For the purpose of this notification "import price on CIF basis" means the assessable value as determined under section 14 of the Customs Act, 1962 (52 of 1962).".

[F.No.354/158/2016-TRU]

(Anurag Sehgal)
Under Secretary to the Government of India