Revenue dept mulls up to 10% duty hike on aluminium import
Source: PIB, Government of India
The revenue department is considering the demand from Aluminium Association of India (AAI) to increase up to 10% import duty on aluminium products and scraps. The import of aluminium scraps and falling prices of aluminium in the international market are impacting the aluminium industry adversely. Production, export and import of aluminium and aluminium products are given below:- (value in lakh tonnes)
| Year | 2012-13 | 2013-14 | 2014-15 |
| Production | 17.20 | 17.23 | 20.47 |
| Export | 5.16 | 5.75 | 7.14 |
| Import | 11.20 | 13.37 | 11.20 |
A representation received from AAI had requested for increasing basic custom duty on aluminium products from 5% to 10% and to increase basic custom duty on aluminium scrap to bring it at par with the duty on primary metal. The same has been sent to Department of Revenue for necessary action. Earlier requests were examined by Department of Revenue as part of the Budget 2015-16 and had not been acceded to. This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Nirmala Sitharaman in a written reply in the Lok Sabha on Friday.
August 07, 2015 | 03:57pm IST.
to success.