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MACHINIST - No proposal from Ministry of Steel regarding roll back of the duties

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Home arrow News arrow Govt. levys, taxes and budget arrow No proposal from Ministry of Steel regarding roll back of the duties

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No proposal from Ministry of Steel regarding roll back of the duties
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Written by Anand   
Tuesday, 06 May 2008

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CLARIFICATION REGARDING MEDIA REPORT ON ROLL BACK OF EXPORT DUTIES ON STEEL

New Delhi: It has been recently reported in a section of the Press/Media that Government is considering a partial rollback on the proposals announced recently regarding export duty on certain steel products. In this regard, the following is clarified: 

1. There is no proposal from Ministry of Steel regarding roll back of the duties announced by the Ministry of Finance.

2. Some of the steel producers engaged in the manufacturing of value added steel products have represented that export duty on Cold Rolled, galvanized and coated sheets as well as pipes and tubes, the input material of which is procured through import of hot rolled coils under the Advance Licensing Scheme, should be exempted from the purview of the proposed export duty. This matter has been taken up with Department of Revenue for consideration.

 
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