Change in export duty on steel likely to come this week
Author: unknow
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Date:
2008-6-2
Source: steelguru
It is reported that a high powered Committee of Secretaries has decided to amend recently imposed export duty on steel products.
The report cited a top level government official as saying that "Export duty on steel products, including high value steel items is getting rationalized. The committee of secretaries has taken a decision."
He added that the duty on all but a few primary and semi finished steel products will be removed. The department of revenue has also agreed to the proposals of the steel ministry and next week it will issue the notification.
The committee of secretaries' decision follows representation from the steel ministry to consider withdrawal of export cess on steel products. The issue was also discussed earlier by steel producers with Dr Manmohan Singh. At the meeting, there was a broad agreement that export cess on steel would be withdrawn as the steel industry has reduced prices to support the government’s inflation control initiative.