NEW DELHI : The Central Board of Indirect Taxes and Customs (CBIC) is assessing the possibility of imposing safeguard duties on steel imports. This move aims to shield the domestic steel industry from the influx of cheaper imports, particularly from countries like China, South Korea, and Japan.

According to CBIC Chairman Sanjay Kumar Agarwal, the Directorate General of Trade Remedies (DGTR) is currently conducting investigations to determine whether safeguard duties or anti-dumping duties are warranted. The final recommendations will be sent to the Department of Revenue for further evaluation . . .