Mines Ministry mulls hiking aluminium import duty – Feedback

Mines Ministry is exploring the feasibility of hiking import duty on aluminium products by 2.5 per cent.

“We are looking at a proposal to raise import duty by an additional 2.5 per cent and have asked primary aluminium producers to make a case to us,” Mines Secretary Balvinder Kumar told. The ministry will hold a meeting with them this week to deliberate on the issue, he added. Primary producers such as state-run Nalco, Vedanta Aluminium and Hindalco have been pursuing the case for slapping safeguard duty on aluminium, which has not found much favour with the Commerce Ministry. Finance Minister Arun Jaitley, in his Budget speech in February, had announced that Basic Customs Duty (BCD) is being increased for primary aluminium from 5 per cent to 7.5 per cent and that on aluminium products from 7.5 per cent to 10 per cent.

http://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/mines-ministry-mulls-hiking-aluminium-import-duty/articleshow/53062192.cms

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *