Govt scraps export duty on iron ore pellets
Amid subdued demand and weakening prices, iron-ore pellet makers and some miners had sought reduction of export duty on iron ore to make the industry competitive The Dollar Business Bureau The government has already taken several measures such as imposing safeguard duty, increasing customs duty and implementing stringent quality guidelines for imported steel Addressing long-pending concerns of the domestic iron and steel industry, the government has scrapped export duty on iron ore pellets, thus giving a fillip to the sector which has been battling global demand slump and weak prices in the international market. GOI removes 5 % export duty on iron ore pellets. This would improve capacity utilization of pellet plants and give necessary boost to sector, Narendra Singh Tomar, Union Minister ...
Revenue dept mulls up to 10% duty hike on aluminium import
Source: PIB, Government of India The revenue department is considering the demand from Aluminium Association of India (AAI) to increase up to 10% import duty on aluminium products and scraps. The import of aluminium scraps and falling prices of aluminium in the international market are impacting the aluminium industry adversely. Production, export and import of aluminium and aluminium products are given below:- (value in lakh tonnes) Year 2012-13 2013-14 2014-15 Production 17.20 17.23 20.47 Export 5.16 5.75 7.14 Import 11.20 13.37 11.20 A representation received from AAI had requested for increasing basic custom duty on aluminium products from 5% to 10% and to increase basic custom duty on aluminium scrap to bring it at par with the duty on primary metal. The same has been sent to Department of Revenue for necessary action. Earlier requests were examined by Department of Revenue ...
