Govt cuts export duty on steel, iron ore; hikes import duty on some raw materials
2 years, 1 month ago

Govt cuts export duty on steel, iron ore; hikes import duty on some raw materials

The Hindu  

Six months after imposition of the levy, the government has cut the export duty on steel products and iron ore with effect from Saturday, November 19, 2022. As per a Finance Ministry notification issued late night on Friday, exports of specified pig iron and steel products as well as iron ore pellets will attract 'nil' export duty. Also, export duty on outward shipment of iron ore lumps and fines with less than 58% iron content will be 'nil'. The Finance Ministry had in May hiked the export duty on pig iron and steel products to 15% from 'nil', a move which was intended to discourage exports and increase domestic availability to help lower prices.

Duty Steel Export Iron Ore Export Duty Iron Ore  import  export  finance  iron  hikes  govt  steel  materials  raw  duty  nil  hiked  ore  pig  products

History of this topic

Indian steelmakers' body seeks export tariff on low-grade iron ore, pellets
4 months, 1 week ago

Indian steelmakers' body seeks export tariff on low-grade iron ore, pellets

Hindustan Times  

By Neha Arora Indian steelmakers' body seeks export tariff on low-grade iron ore, pellets NEW DELHI, - India's leading steelmakers' body wants the government to impose an export tax on low-grade iron ore and pellets to address local shortages, according to a letter by the Indian Steel Association, which was seen by Reuters. India currently does not tax exports of …

Budget 2023: Govt Likely To Hike Import Duty On 35 Items; Jewellery, Electronic Items To See Price Rise
1 year, 11 months ago

Budget 2023: Govt Likely To Hike Import Duty On 35 Items; Jewellery, Electronic Items To See Price Rise

News 18  

The government is examining to hike customs duty on more than 35 items in the upcoming budget, which is scheduled to be announced on February 1, according to an Economic Times report. Meanwhile, the commerce ministry has also sought a reduction in the import duty on gold in the budget with a view to push exports and manufacturing of the …

Centre mulls slashing steel export duty
2 years, 4 months ago

Centre mulls slashing steel export duty

Live Mint  

NEW DELHI : The Union government may reduce or eliminate the export duty on steel products amid falling prices and rising domestic supply, two people familiar with the matter said, after a similar decline prompted a duty cut on petro products. The government imposed the export duty on select steel products, including pig iron, flat-rolled products of both carbon steel …

Govt. waives import duty on some raw materials for steel industry, export duty on iron ore raised by up to 50%
2 years, 7 months ago

Govt. waives import duty on some raw materials for steel industry, export duty on iron ore raised by up to 50%

The Hindu  

The government has waived customs duty on the import of some raw materials, including coking coal and ferronickel, used by the steel industry, a move which will lower the cost for the domestic industry and reduce prices. Also, to increase domestic availability, the duty on exports of iron ore has been raised up to 50%, and that for a few …

Government announces customs duty cut on iron, steel inputs
2 years, 7 months ago

Government announces customs duty cut on iron, steel inputs

Live Mint  

Finance minister Nirmala Sitharaman said on Saturday that the government will rework customs duty on iron and steel and their raw materials to tame prices. “We are calibrating customs duty on raw materials and intermediaries for iron and steel to reduce their prices. The minister also said the government has decided to reduce customs duty on raw materials and intermediaries …

Budget 2021: Govt may review export duty on iron ore
3 years, 10 months ago

Budget 2021: Govt may review export duty on iron ore

India TV News  

The government may put further checks on export of iron ore to allow greater availability of this critical input for the domestic steel industry at competitive prices. In the wake of a pick up in global steel demand, and Indian iron ore getting exported to countries such as China, the domestic ore prices have also shot up, almost doubling to …

SC asks Govt's, 61 firms' reply on PIL alleging duty evasion in iron ore exports
3 years, 11 months ago

SC asks Govt's, 61 firms' reply on PIL alleging duty evasion in iron ore exports

Hindustan Times  

The Supreme Court has sought responses from the Centre and 61 iron exporting firms including Essar Steel and Jindal Steel & Power on a PIL seeking a direction to the CBI to register an FIR and probe the alleged duty evasion by them in exporting iron ore to China since 2015. A bench headed by Chief Justice S A Bobde …

SC Seeks Reply from Centre, 61 Firms on PIL Alleging Duty Evasion in Iron Ore Exports to China
3 years, 11 months ago

SC Seeks Reply from Centre, 61 Firms on PIL Alleging Duty Evasion in Iron Ore Exports to China

News 18  

The Supreme Court has sought responses from the Centre and 61 iron exporting firms including Essar Steel and Jindal Steel & Power on a PIL seeking a direction to the CBI to register an FIR and probe the alleged duty evasion by them in exporting iron ore to China since 2015. A bench headed by Chief Justice S A Bobde …

Hit by Rising Iron Ore Pellet Exports to China, Secondary Steel Makers Seek PM Modi's Intervention
4 years, 4 months ago

Hit by Rising Iron Ore Pellet Exports to China, Secondary Steel Makers Seek PM Modi's Intervention

News 18  

Secondary steel makers have sought Prime Minister Narendra Modi's intervention to resolve the issue of their raw material shortages due to surging exports of iron ore pellet to China, which, they term, is against the idea of Atmanirbhar Bharat or self-reliant India. The industry body has demanded imposition of at least 30 per cent export duty on iron ore pellets, …

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