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Manufacturing Sector Provided Relief in Customs Duty Customs Duties on Imported Plant and Machinery for Iron Ore Plants Reduced to 2.5 Per Cent.
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....anufacturing Sector Provided Relief in Customs Duty Customs Duties on Imported Plant and Machinery for Iron Ore Plants Reduced to 2.5 Per Cent. <br>News and Press Release<br>Dated:- 16-3-2012<br><BR>Press Information Bureau Government of India Ministry of Finance 16-March-2012 14:17 IST Manufacturing Sector Provided Relief in Customs Duty Customs Duties on Imported Plant and Machinery for Iro....
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....n Ore Plants Reduced to 2.5 Per Cent The Union Finance Minister ShriPranab Mukherjee while presenting the Union Budget for 2012-13 has announced to reduce basic customs duties on plant and machinery imported for setting-up of iron ore pellet plants or iron ore beneficiation plants from 7.5 percent to 2.5 percent. In his Budget Speech in LokSabha today, the Finance Minister proposed to reduce basi....
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....c customs duty on coating material for manufacturing of electrical steel from 7.5 percent to 5.0 percent. On nickel ore and concentrate and nickel oxide/ hydroxide, the duties have been reduced to NIL from 2.5 percent or 7.5 percent. In other proposals, export duty on chromium ore has been enhanced from Rs. 3,000/- per tonne to 30 percent ad valorem. Basic customs duty on non-alloy, flat rolled st....
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....eel has been proposed to enhance from 5 percent to 7.5 percent. Shri Mukherjee said that relief has been proposed for sectors such as steel, textiles, branded readymade garments, low-cost medical devices, labour intensive sectors producing items of mass consumption and matches produced by semi-mechanised units. He proposed to fully exempt automatic shuttle-less looms from basic customs duty of 5 ....
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....per cent. Similarly, full exemption on basic duty is being accorded to automatic silk reeling and processing machinery as well as its parts. Full exemption from basic customs duties has been proposed on waste paper, LCD and LED TV Panels and parts of memory card for mobile phones in the Budget 2012-13. DSM/YSK/nb/1<BR> News - Press release - PIB....