In its pre-Budget memorandum, the Sponge Iron Manufacturers Association (SIMA) urged government to discourage huge import of steel scrap, which is killing Indian sponge iron industry. The association wants the government raise basic customs duty on steel melting scrap from 0 to 10 per cent in Budget 2013 to discourage its
Tag: customs
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Ministry wants to cut subsidy bill by changing pricing formula
Union finance ministry wants the oil marketing companies (OMCs) to calculate under-recoveries from sale of fuel products based on export parity price rather than the presently followed import parity price. The ministry wants OMCs to discontinue import parity price because the 2.5 per cent customs duty was adding to the under-recoveries of the state-run oil marketing companies without contributing any revenue to th
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Industry body calls for cut in import duty
Metal Container Manufacturers' Association suggested the union finance ministry to reduce the import duty on prime tinplate from 7.5 per cent to 5 per cent. The association said this in a pre-Budget memorandum. It argues that the industry has not been able to make major investments for modernisation as the fund
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Ambiguity in duty hits galvanised steel export
Reports suggest that export of huge amount of galvanised steel is affected because of confusion over export duty on the product and consequently exporters are seeking clarity on the issue. The recent move by Kolkata port to impose 20 percent export duty on galvanised steel created confusion among primary steel manufacturers. Following this, EEPC India, (formerly known as Engin
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Adani Ports to expand AHCT
Adani Ports and SEZ plans to expand the operating envelope at its newly commenced Adani Hazira Container Terminal (AHCT) at Adani Hazira Port (AHPPL) in the
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