Duty on steel, cement:
[ 23 Jan, 2007 ]
DELHI: In order to check the rising inflation, government on Monday decided to reduce the import duty on items like stainless steel, cement, aluminium, zinc, copper, specified capital goods and project import.
The decision has been taken just five to six weeks ahead of Budget. The finance ministry said to reduce cost of manufacturing, and infrastructure development, government has decided to reduce customs duty on cement, various raw materials and capital goods.
The import duty on Portland cements reduced from 12.5% to Nil. This will force the domestic cement manufacturers also to reduce the price to match the imported price. Similarly, the import duty on stainless steel and other alloy steel is brought down to 5% from 7.5%.
Duty on primary and semi-finished forms of Copper, Aluminium, Zinc, Tin and other base metals has been reduced to 5% from 7.5%. Duty on specified capital goods and their parts, and winding wires has been reduced to 7.5% from 12.5% and 10%. Duty on the import of projects has been brought down to 7.5% from 12.5% and 10%.
Import duties on airport development and metro rail projects has been cut to 7.5%.
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Keep a watch on STEEL & CEMENT STOCKS...
[ 23 Jan, 2007 ]
DELHI: In order to check the rising inflation, government on Monday decided to reduce the import duty on items like stainless steel, cement, aluminium, zinc, copper, specified capital goods and project import.
The decision has been taken just five to six weeks ahead of Budget. The finance ministry said to reduce cost of manufacturing, and infrastructure development, government has decided to reduce customs duty on cement, various raw materials and capital goods.
The import duty on Portland cements reduced from 12.5% to Nil. This will force the domestic cement manufacturers also to reduce the price to match the imported price. Similarly, the import duty on stainless steel and other alloy steel is brought down to 5% from 7.5%.
Duty on primary and semi-finished forms of Copper, Aluminium, Zinc, Tin and other base metals has been reduced to 5% from 7.5%. Duty on specified capital goods and their parts, and winding wires has been reduced to 7.5% from 12.5% and 10%. Duty on the import of projects has been brought down to 7.5% from 12.5% and 10%.
Import duties on airport development and metro rail projects has been cut to 7.5%.
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Keep a watch on STEEL & CEMENT STOCKS...