Inflation check: Govt slashes custom duty
By INDIATIMES NEWS NETWORK |
Highlights
NEW DELHI: In what could prove to be a very significant move, the Government on Monday reduced customs duty on cement, specified capital goods, project imports, some chemicals, stainless steel, primary and semi-finished forms of copper, aluminium, zinc.
The corresponding industries may rally tomorrow in the bourses as the customs duty on Portland cement has been dropped to nil from 12.5%. Similarly, duty on stainless steel has been reduced to 5% from 7.5%.
Further, government also cut duty on specified capital goods from 12.5% to 7.5% along with a cut in the duty on primary and semi-finished base metals to 5% from the current 7.5%.
The corresponding industries may rally tomorrow in the bourses as the customs duty on Portland cement has been dropped to nil from 12.5%. Similarly, duty on stainless steel has been reduced to 5% from 7.5%.
Further, government also cut duty on specified capital goods from 12.5% to 7.5% along with a cut in the duty on primary and semi-finished base metals to 5% from the current 7.5%.
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