Export Duty on Iron Ore Fines
Effective Export duty of 15% ad valorem was imposed on iron ore (lumps and fines) in June, 2008 by Notification No. 79/2008-Cus., Dated: June 13, 2008. The 15% ad valorem export duty on fines has been replaced with a specific duty of Rs.200 PMT. The rate of export duty on iron ore lumps continues to remain unchanged.
The international price of fines has gone down substantially making their exports unremunerative. It appears this was done with a view to improve the export competitiveness of the mining industry, and for protecting the interest of the employees engaged in this sector.
Notification NO. and Dated: October 31, 2008