Indian Metal Recycling Association looks for Removal of Special Additional Duty on Imports of Scrap

Metal Recycling Association of India (MRAI) along with other Association member has requested and submitted the letter to the Honorable Prime Minister of India Dr. Manmohan Singh to removal of Special Additional Duty (SAD) on imports of scrap and correcting invert duty structure in lieu of the Foreign Trade Agreement.

BCD was implemented in the month of 09 May 2013 due to which imports of scrap have gone down significantly. MRAI justifies that falling Rupee and SAD has killed imports of scrap in India. India is the third largest importer of scrap after Turkey and Korea. India has imported almost 8 million tonnes of scrap in FY 2012-2013.

Under these letter contain following things:

• SAD is removed on raw material imports by MSMEs.
• Unused, accumulated CENVAT should be refunded and or to be adjusted against fresh imports.
• Basic custom duty is aligned to general world tariffs / partner FTA countries.
• Imports of finished product under FTA is allowed only after proper verification on value addition norms set.

Also compare to import duty of India with other countries: