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of <h1>India Cuts Customs Duty on Low-Grade Iron Ore Exports Under Customs Act, 1962; Exemption Later Withdrawn in 2008</h1> The Government of India, through the Ministry of Finance's Department of Revenue, issued Notification No. 62/2007 on May 3, 2007, granting an exemption on customs duty for iron ore fines with an Fe content of 62% and below. This exemption applies to the export of these iron ore fines, reducing the customs duty to Rs. 50 per tonne. The notification was issued under the authority of the Customs Act, 1962, and was later rescinded by Notification No. 80/2008 on June 13, 2008.
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