Commerce ministry seeks details from mines ministry on aluminium MIP
The Dollar Business Bureau The Ministry of Commerce on Monday sought clarifications from the Ministry of Mines with respect to the minimum import price of aluminium, as the government looks to take more steps to protect the domestic steel industry. “They (the commerce ministry) raised certain queries. We are sending replies of those queries to the commerce ministry,” Mines Secretary Balvinder Kumar told PTI. He said the government will announce additional measures within a fortnight. The government has been contemplating on imposing MIP on steel, a decision which could raise cheaper imports from various countries, thereby hurting the domestic aluminium manufacturers. The Indian aluminium industry had earlier sought restrictions of MIP on aluminium imports, as on steel. India already has restrictive arrangements on steel. A ...
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 ...
Aluminium industry asks government to increase duty on imported metal to 10%
Himanshu Vatsa | The Dollar Business Aluminium manufactures have asked the government to increase duty on the imported metal and its scrap up to 10% to protect the domestic industry. At present, the government imposes import duty on aluminium and its scrap at 5% and 2.5% respectively. But the domestic producers have been facing major threat due to cheap import from China and West Asian countries. The issue was discussed on Thursday in a meeting between the representatives of the Aluminium Association of India (AAI), Mines Secretary Balwinder Kumar and Chairman of the Central Board of Excise and Customs Kaushal Srivastava. The industry body has demanded a duty hike up to 10% flat on aluminium and its scrap and expressed hope ...
