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of <h1>India Cuts Export Duty on NMDC Iron Ore to Japan, South Korea from 30% to 10% Until March 2018</h1> The Government of India has amended its customs tariff to reduce the export duty on iron ore exported by MMTC Limited, specifically of National Mineral Development Corporation (NMDC) origin, to Japan and South Korea. Under the Long Term Agreement (LTA), the duty is reduced from 30% to 10% until March 31, 2018. Exporters must present a certificate from MMTC Limited confirming the NMDC origin of the goods for export under the LTA to the relevant customs authorities before clearance. This amendment is effective until April 1, 2018.
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