Export Duty made Nil on steel products
The Export Duty on steel products had hit the SEZs most and many of them were busy sorting out cases with DRI, assorted Central Excise officers, Commerce Ministry and several High Courts. They can now heave a sigh of relief that the duty has been made nil. Though the SEZ issue is not sorted out and the demands and litigation for the past periods will continue, the future seems to be as strong as steel.
Notification No. 66/2008 – cus has been amended to substitute “nil” for 15%. Now there are only two dutiable items remaining in the Notification. Ferrous waste and scrap at 15% and Basmati rice at Rs. 8000/- per MT.
Notification NO. Dated: October 31, 2008