GOVT SCRAPS CUSTOMS DUTY ON KEROSENE OIL

Article Abstract:

The Customs duty on kerosene oil has been reduced from 30 percent plus 2 percent special duty to zero percent by the Ministry of Finance of the Government of India. The duty on N- paraffin also has been reduced from 30 percent to 20 percent. The Government will lose about Rs35 crore from these concessions. The 30 percent plus 2 percent duty on kerosene was introduced in the budget of the Government of India for 1998-99 to reduce the margin of those dealers who mix imported kerosene with petrol. (gsh)

Comment:

India: Customs duty on kerosene oil is cut from 30% plus 2% special duty to 0% by Ministry of Finance of Govt of India

Petroleum Refineries, Kerosine ex Jet Fuel, Kerosene

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EU CUTS DUMPING DUTY ON ALL BUT 2 COS MAKING STEEL BARS

Article Abstract:

The European Union (EU) has decided to remove anti-dumping duty on stainless steel bars from India except on bars from two companies. An anti-dumping duty of 11.4 percent has been retained on bars from Panchmahal Steel Ltd of Baroda and 2.2 percent for Bhansali Bright Bars of Mumbai. The EU has decided to impose a countervailing duty on bars for a four-month period. The provisional countervailing duty ranges from 0 percent to a maximum of 25 percent. (khr)

Comment:

Will retain the anti-dumping duty of 2.2% imposed by the European Commision

Iron and Steel Mills, Stainless Steel, Panchmahal Steel Ltd., Bhansali Bright Bars

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