The Indian steel ministry has submitted their proposal to the financial council for imposing around 15 percent import tax on certain overseas steel products in order to protect domestic steelmakers.
It is suggested to impose 10 percent import duty on all imported long steel products, including TMT bars and 15 percent extra tax on all overseas flat steel products, such as all hot rolled and cold rolled steels.
In comparison, currently Indian government charges 5 percent tax on all imported steels. The result will come out after the parliament’s permission on February 12. Source: Yieh.com
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Sunday, February 15, 2009
13:18 |
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