In a recent development, Chinese Central Government has withdrawn Export Tax Rebate offered to Chinese steel exporters on certain Boron added steel products w.e.f. 1 Jan’15. As per trade sources, tax rebates on Flat products with HS codes 72254091 and 72269191 have been removed.
Trade experts believe that impact of the rebate cut will not be significant as Boron added HR Coils are not differentiated from Alloyed HR Coils. Major imported Flat steel products like HR coils, HR plates, CR coils and Galvanized plain items are not included in this and thus Chinese exporters will continue to get the tax rebate of 9-13%.
Following is a list of HS codes which enjoyed tax rebates:
| HS Code | Description | Tax Rebate |
| 722530 | Flat Rolled Alloy Steel(Other than stainless) in Coils 600 mm or more wide, Hot Rolled | 9.00% |
| 722540 | Flat Rolled Alloy Steel (Other than stainless) not in Coils 600 mm or more wide, Hot Rolled | 13.00% |
| 72254091 | Alloy Steel containing Boron | 13.00% |
| 722691 | Flat Rolled Alloyed Steel under 600 mm wide, Hot Rolled, | 9.00% |
| 72269191 | Alloy Steel containing Boron | 9.00% |
As per latest reports from International Steel Mills, the current policy change will eliminate taxes on following products.
| HS Code | Description |
| 72254091 | HR Sheets from Coils and Chequered Plates from Coils Decoiled from HRC |
| 72269191 | HR Skelp |
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