Government withdraws export duty on Steel

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....overnment withdraws export duty on Steel <br>News and Press Release<br>Dated:- 19-11-2022<br><BR>The Central Government has restored the status quo as was prevailing prior to 22nd May, 2022 and withdrawn the export duty on iron ores lumps & Fines below 58% Fe content, iron ore pellets and the specified steel products including pig iron. The import duty concessions on Anthracite / PCI coal, coking ....

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....coal, coke & semi coke and ferro-nickel have also been withdrawn. Thus with effect from 19 Nov, 2022,- * Exports of iron ore lumps and fines < 58% Fe will attract nil export duty. * Exports of iron ore lumps and fines > 58% Fe will attract lower export duty of 30%. * Exports of iron ore pellets will attract nil export duty. * Exports of pig iron and steel products classified under HS 720....

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....1, 7208, 7209,7210,7213, 7214, 7219, 7222 & 7227 will attract nil export duty * Anthracite/PCI & coking coal and ferronickel will attract import duty of 2.5%. * Coke and Semi coke will attract 5% import duty. In May, 2022 , in the wake of a sharp and steady rise in prices of steel and in order to augment the availability both of finished steel as well as raw materials or intermediates require....

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....d for steel manufacture, the Government took several tariff measures earlier this year. With effect from 22nd May, 2022, export duty on iron ore lumps with more than 58% Fe content was raised from 30% to 50% ad valorem; export duty of 50% was imposed on iron ore with Fe content below 58%; export duty of 45% was imposed on iron ore pellets; export duty of 15% ad valorem was imposed on different for....

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....ms of alloy and non-alloy steel including pig iron ( HS 7201, 7208, 7209,7210,7213, 7214, 7219, 7222 & 7227) and import duty exemptions were given to Anthracite / PCI coal, coking coal, coke & semi coke and ferronickel. The current measures will provide a fillip to the domestic steel industry and boost exports.<BR> News - Press release - PIB....