Indian government has further reduced customs duty to zero on imports of various products imported from Japan under the Indo-Japan Comprehensive Economic Partnership Agreement (IJCEPA).
As per the IJCEPA India will provide deeper tariff concessions in respect of specified goods.Import duty on specified goods from Japan has eventually seen reduction since it was imposed in 2011.
Import duty on Hot rolled products with thickness greater than or equal to 600 mm imported from Japan continues to remain nil.
Import duty on stainless steel scrap (HS code 72042110) imported from Japan has been reduced by 21.74% to 1.80.
Also Import duty on scrap of other alloy steel (HS code 720429) imported from Japan has been reduced by 21.74% to 1.80.
Duty Structure OF IJCEPA For Steel Products (Ch-72)
| HS Codes | Product Description | 2011 | 2016 | 2017 | Change |
| 720110 | Pig iron | 5 | 0.00 | 0.00 | 0 |
| 720120 | Pig iron | 2.30 | 1.80 | -0.5 | |
| 720150 | Pig iron | 0.00 | 0.00 | 0 | |
| 720211 to 720219 | Ferro manganese | 2.30 | 1.80 | -0.5 | |
| 720221 to 720229 | Ferro silicon | 0.00 | 0.00 | 0 | |
| 720230 | Ferro silicon manganese | 2.30 | 1.80 | -0.5 | |
| 720241 to 120249 | Ferro chrome | 0.00 | 0.00 | 0 | |
| 720250 to 720260 | Ferro alloys | 2.30 | 1.80 | -0.5 | |
| 720270 | Ferro chrome | 0.00 | 0.00 | 0 | |
| 72028000 to 72029921 | Ferro alloys | 2.30 | 1.80 | -0.5 | |
| 72029922 | Ferro manganese | 0.00 | 0.00 | 0 | |
| 72029931 to 72039000 | 72029931-Ferro Boron,72039000-spong ferrous product | 2.30 | 1.80 | -0.5 | |
| 720410 | Scrap | 0.00 | 0.00 | 0 | |
| 72042110 | Stainless steel Scrap | 2.30 | 1.80 | -0.5 | |
| 72042190 | Stainless steel Scrap | 0.00 | 0.00 | 0 | |
| 720429 to 720430 | scrap of other alloy | 2.30 | 1.80 | -0.5 | |
| 720441 to 720449 | Scrap | 0.00 | 0.00 | 0 | |
| 720450 to 720521 | 720450-Scrap,720521-pig iron | 2.30 | 1.80 | -0.5 | |
| 720529 | Pig iron | 0.00 | 0.00 | 0 | |
| 72061010 to 72069019 | Iron and non alloys steel in Ingot | 2.30 | 1.80 | -0.5 | |
| 72069091 | Iron and non alloys steel in Ingot | 0.00 | 0.00 | 0 | |
| 72069092 to 72071910 | Iron and non alloys steel in Ingot | 2.30 | 1.80 | -0.5 | |
| 72071920 to 72072010 | Semi Finished Non Alloy | 0.00 | 0.00 | 0 | |
| 72072020 to 72072090 | Semi Finished Non Alloy | 2.30 | 1.80 | -0.5 | |
| 720810 to 722990 | 7208-HR coils thicknes >=600mm,722990-wire of other alloys steels | 0.00 | 0.00 | 0 |
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