Effect Of Budget On Steel Sector
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- The duty on primary steel is at 5 per cent . The duty on alloy steel and primary and secondary non-ferrous metals from 10 per cent to 7.5 per cent. This will also be the rate of duty for ferro alloys.
- In 2004-05, in view of the high international prices of steel, there was reduced the import duty on steel melting scrap to zero. With prices of steel coming down, it is proposed to restore the duty to 5 per cent and bring it on par with primary steel.
- The duty on primary steel is at 5 per cent . The duty on alloy steel and primary and secondary non-ferrous metals from 10 per cent to 7.5 per cent. This will also be the rate of duty for ferro alloys.
- In 2004-05, in view of the high international prices of steel, there was reduced the import duty on steel melting scrap to zero. With prices of steel coming down, it is proposed to restore the duty to 5 per cent and bring it on par with primary steel.
