Lovastatin originating in, or exported from Peoples Republic of China - Antidumping duty - 93/98 - Customs -Tariff

Lovastatin originating in, or exported from Peoples Republic of China - Antidumping duty Notification No. 93/98-Cus. Dated 24-11-1998 Whereas in the matter of import of Lovastatin falling under Chapter 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in or exported from Peoples Republic of China, the Designated Authority vide its preliminary findings, published in the Gazette of India Extraordinary, Part I, Section I, dated the 23rd September, 1998 had come to the conclusion that - (a) Lovastatin orginating in, or exported from the Peoples Republic of China, has been exported to India below normal value, resulting in dumping; (b) the Indian industry has suffered material injury ; (c) the injury has been caused cumulatively by the export from the subject country. Now, therefore, in exercise of the powers conferred by sub-section (2) of section 9A of the said 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 findings of the Designated Authority, hereby, imposes on Lovastatin, falling under chapter 29 of the First Schedule to the said Customs Tariff Act, when originating in or exported from Peoples Republic of China, and imported into India, an anti-dumping duty at a rate which shall be the difference between Rs. 1,91,869 (Rupees one lakh ninety one thousand eight hundred and sixty nine only) per kg and the landed value of Lovastatin per kg. Provided that the rate of anti-dumping duty shall not exceed an amount of Rs. 73,944 per kg. 2. This notification shall have effect upto and inclusive of the 23rd day of May, 1999. Explanation. - For the purposes of this notification, `landed value' means the assessable value as determined under the Customs Act, 1962 (52 of 1962) and includes all duties of customs except customs duties levied under section 3, 3A, 8B, 9 or section 9A, as the case may be, of the said Customs Tariff Act.