Excise duty reduction on iron and steel and customs cuts on coal and pig iron reduce import and production costs. Reductions in central excise and customs duties were announced for specified iron, steel and coal products. Excise duty on chapter 72 goods (iron and steel) was reduced, and customs duty rates for pig iron, non coking coal and low ash coking coal were lowered or exempted. Notification Nos. 44/2004 Customs and 16/2004 Central Excise were issued to give effect to the changes and to set the operative commencement of the revised rates, with dissemination via electronic channels and the department website.
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Excise duty reduction on iron and steel and customs cuts on coal and pig iron reduce import and production costs.
Reductions in central excise and customs duties were announced for specified iron, steel and coal products. Excise duty on chapter 72 goods (iron and steel) was reduced, and customs duty rates for pig iron, non coking coal and low ash coking coal were lowered or exempted. Notification Nos. 44/2004 Customs and 16/2004 Central Excise were issued to give effect to the changes and to set the operative commencement of the revised rates, with dissemination via electronic channels and the department website.
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