Six months after the imposition of the levy, the government has cut the export duty on steel products and iron ore with effect from Saturday.바카라 웹사이트
As per a finance ministry notification issued late at night on Friday, exports of specified pig iron and steel products as well as iron ore pellets will attract 'nil' export duty.바카라 웹사이트
Also, export duty on outward shipment of iron ore lumps and fines with less than 58 per cent iron content will be 'nil'. 바카라 웹사이트
In the case of iron ore lumps and fines with more than 58 per cent iron, the rate of duty will be 30 per cent. 바카라 웹사이트
As per the notification, import duty on anthracite/PCI, coking coal, and ferronickel -- used as raw material in the steel industry -- has been hiked to 2.5 per cent, while for coke and semi-coke it has been raised to 5 per cent, from 'nil' earlier. 바카라 웹사이트
The duty cut follows a meeting of Steel Minister Jyotiraditya Scindia with Finance Minister Nirmala Sitharaman earlier this week. The meeting was attended by Revenue Secretary-designate Sanjay Malhotra, among other senior officials.
The finance ministry had in May hiked the export duty on pig iron and steel products to 15 per cent from 'nil', a move which was intended to discourage exports and increase domestic availability to help lower prices.바카라 웹사이트
The tax on the export of iron ores and concentrates was hiked to 50 per cent from 30 per cent, while on iron pellets a 45 per cent duty was imposed.바카라 웹사이트
The steel industry has been demanding a rollback of the duties, saying local demand was not sufficient for domestic production.
