Import duty concessions on Anthracite/ PCI coal, coking coal, coke and semi coke and ferronickel have been withdrawn
Restoring the status quo as was prevailing prior to May 22, the Centre has withdrawn the export duty on iron ores lumps and fines below 58 Fe content, iron ore pellets, and the specified steel products, including pig iron. The import duty concessions on Anthracite/ PCI coal, coking coal, coke and semi-coke, and ferronickel have also been withdrawn.
Officials said that the current measures will provide a fillip to the domestic steel industry and boost exports.
With effect from Saturday, exports of iron ore lumps and fines with less than 58 percent Fe will attract nil export duty and with more than 58 percent Fe will attract lower export duty of 30 percent.
Similarly, exports of iron ore pellets will attract nil export duty, and exports of pig iron and steel products classified under HS 7201, 7208, 7209, 7210, 7213, 7214, 7219, 7222, and 7227 will attract nil export duty.
In May, in the wake of a sharp and steady rise in prices of steel and in order to augment the availability of both finished steel as well as raw materials or intermediates required for steel manufacture, the government took several tariff measures earlier this year.
[With Inputs from IANS]
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Why export pig iron & deplete our own earth resources ? Is any country giving us discount on oil ? (exclude Russia for whom it is an situation urgency)
They believe exporting our valuable resources is Bikas