FICCI in its
pre-budget memorandum has given the following recommendations for steel and
other ferrous metals:
The Government may consider reviewing
the duty structure on following items:
* Customs duty on Vanadium Pentoxide (Chapter Heading 2825 30) and
Vanadium sludge/ Ammonium Metavanadate (Chapter Heading 2841.90) may be reduced
suitably from the present level of 7.5%.
* Government may consider listing Ferro Manganese Slag under Free Items
instead of Restricted Items under chapter heading 2621 9000.
* Customs duty on Ferro alloys under heading 7202 to 7.5% except Ferro
Nickel (7202 6000) may be suitably increased.
* Customs Duty on the Ores viz. Manganese Ore, Chrome Ore, Molybdenum
Ore/moly Oxide, Tungsten Ore, Wolframite Ore, Scheelite Ore, Nickel Oxide,
Vanadium Ore etc., falling under Chapter 26, are basic raw materials and duty
may be suitably reduced as these are not available in the country except the
first two.
Source: The Economic Times
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