India PET Resin: Prelim CV Cash Deposit Rates Take Effect, Retroactive for Some
A countervailing duty cash deposit requirement will take effect Aug. 14 for imports of polyethylene terephthalate resin from India (C-533-862), as the Commerce Department found illegal subsidization of Indian producers in its preliminary determination (here). Commerce is making the suspension of liquidation and CV duty cash deposits retroactive to May 16 for subject merchandise from all Indian companies except Dhunseri.
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PET resin subject to this investigation is also the subject of an antidumping duty investigation. The preliminary AD duty determination is currently due Oct. 6 (see 1507310063).
Commerce Finds Critical Circumstances; Cash Deposits Retroactive 90 Days
Commerce made a finding that all Indian companies except Dhunseri increased their exports to the U.S. in the run up to the preliminary determination, in an attempt to get in as much product as possible before the imposition of CV duties. This "critical circumstances" finding by the agency allows it to retroactively suspend liquidation for these companies back to 90 days before the preliminary determination, i.e. May 16
CV Suspension of Liquidation and Cash Deposit Requirements
Commerce says it will instruct CBP to suspend liquidation for all entries of subject merchandise that are entered, or withdrawn from warehouse, for consumption on or after May 16, except for subject merchandise exported by Dhunseri. Suspension of liquidation for Dhunseri will take effect Aug. 14. Preliminary CV cash deposit rates will be required as follows:
| Company | Prelim CV Rate |
|---|---|
| Dhunseri Petrochem Ltd (formerly Dhunseri Petrochem & Tea Ltd) | 5.5% |
| JBF Industries Limited | 115.04 |
| All other companies | 5.5% |
(The period of investigation is 01/01/14 - 12/31/14. See Commerce's notice for more information, including the scope (unchanged since initiation), suspension of liquidation, etc. See 1504030024 for summary of the initiation of this CV duty investigation, and 1503130026 for summary of the underlying petition.)
AD/CVD Operations contact -- Yasmin Nair (202) 482-2183
Federal Register 08/14/15)