Steel producers seek export duty exemption on some products
The Steel Ministry on Monday said it has taken up with the Department of Revenue a proposal from steel producers to exempt export duty on certain steel products,for which input materials have been imported under Advance Licensing Scheme.
By PTI |
NEW DELHI: The Steel Ministry on Monday said it has taken up with the Department of Revenue a proposal from steel producers to exempt export duty on certain steel products,for which input materials have been imported under Advance Licensing Scheme.
An official statement issued here said: "There is no proposal from the Ministry of Steel regarding roll back of the duties announced by the Ministry of Finance."
Some steel producers engaged in the manufacturing of value-added steel products have said the export duty on cold rolled, galvanised and coated sheets as well as pipes and tubes, the input material of which is procured through the import of hot rolled coils under the ALS, should be exempted from the purview of the proposed export duty.
This was imperative to enable the producers achieve economies of scale, especially those who manufacture high-end products.
"This matter has been taken up with Department of Revenue for consideration," the Ministry said.
An official statement issued here said: "There is no proposal from the Ministry of Steel regarding roll back of the duties announced by the Ministry of Finance."
Some steel producers engaged in the manufacturing of value-added steel products have said the export duty on cold rolled, galvanised and coated sheets as well as pipes and tubes, the input material of which is procured through the import of hot rolled coils under the ALS, should be exempted from the purview of the proposed export duty.
This was imperative to enable the producers achieve economies of scale, especially those who manufacture high-end products.
"This matter has been taken up with Department of Revenue for consideration," the Ministry said.
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