Stainless steel industry seeks zero duty on ferro-nickel, scrap in upcoming Budget
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Last Updated: Dec 20, 2020, 11:28 AM IST
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Synopsis
Ahead of the Budget, the Indian Stainless Steel Development Association (ISSDA) has urged the government to remove import duty on ferro-nickel and stainless steel scrap. Currently, ferro-nickel and stainless steel scrap attract basic customs duty (BCD) of 2.5%.
Ahead of the Budget, the Indian Stainless Steel Development Association (ISSDA) has urged the government to remove import duty on ferro-nickel and stainless steel scrap. Currently, ferro-nickel and stainless steel scrap attract basic customs duty (BCD) of 2.5 per cent. In its recommendations to Finance Ministry for the upcoming Budget for financial year 2021-22, ISSDA has also sought removal of import duty on graphite electrodes. ISSDA said it has appealed to exempt the 2.5 per cent BCD levied while importing key raw materials, including ferro-nickel and stainless steel s