Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Union budget 2016-17: import tax on aluminum, zinc raised.


Date: 01-03-2016
Subject: Union budget 2016-17: import tax on aluminum, zinc raised
Mumbai: India will increase taxes on imports of aluminum to curb cheap supplies that have poured in mainly from China, seeking to protect local metals producers.

The duty on primary aluminum will be increased to 7.5% from 5%, according to the budget document for the financial year starting 1 April released on Monday. The tariff on other aluminum products will be boosted to 10% from 7.5% while the tariff on zinc alloys will be increased to 7.5% from 5%, it said.

A slowdown in China’s economy has led to a surge in metals from aluminum to zinc flooding world markets, triggering a rise in trade tensions from the US to Asia. India’s mines secretary Balvinder Kumar said earlier this month that the surge in imports of aluminum remained the biggest worry and the country was considering a safeguard tax.

“This is something good but not significant enough for the industry,” Abhijit Pati, chief executive officer of Vedanta Ltd.’s aluminum operations, said by phone. “We are still working on a safeguard tax and other measures.”

Vedanta closed 1.7% lower at Rs.70.60 in Mumbai, erasing intraday gains of as much as 6.9%, Hindalco Industries Ltd. ended 1% lower at Rs.68.75, while National Aluminium Co. slid 1.2% to Rs.32.90. The benchmark S&P BSE Sensex index dropped 0.7%.

India’s aluminum imports rose 4.5% to 1.13 million metric tons in the eight months through November, according to data from the Directorate General of Commercial Intelligence and Statistics.

The industry is disappointed by the government’s proposal to double the clean-energy tax on coal to Rs.400 a ton to fight environmental pollution as it will make the fuel costlier for metal producers, Vedanta’s Pati said.

Source : livemint.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-09-2025
Corrigendum
Corrigendum to Notification No. 9/2025 – Central Tax (Rate) dated 17.09.2025

Date: 17-09-2025
Notification No. 13/2025-Central Tax (Rate)
Seeks to amend Notification No. 21/2018- Central Tax (Rate) dated 26.07.2018.

Date: 17-09-2025
Notification No. 14/2025-Central Tax (Rate)
Seeks to notify GST rate for bricks.

Date: 17-09-2025
Notification No. 37/ 2025-Customs
Seeks to amend Notification No.19/2019-Customs dated 06.07.2019

Date: 17-09-2025
Notification No. 38/ 2025-Customs
Seeks to amend Notification No.29/2025-Customs dated 09.05.2025

Date: 17-09-2025
Notification No. 39/2025-Customs
Seeks to amend Notification No.50/2017-Customs, dated 30.06.2017

Date: 17-09-2025
NOTIFICATIONNo. 15/2025 – Central Tax
Seeks to exempt taxpayer with annual turnover less than Rs 2 Crore from filing annual return.

Date: 17-09-2025
NOTIFICATION No. 16/2025–Central Tax
Seeks to notify clauses (ii), (iii) of section 121, section 122 to section 124 and section 126 to 134 of Finance Act, 2025 to come into force.

Date: 17-09-2025
Notification No. 12/2025-Central Tax (Rate)
Seeks to amend Notification No. 8/2018- Central Tax (Rate) dated 25.01.2018.

Date: 17-09-2025
NOTIFICATION No. 14/2025 – Central Tax
Seeks to notify category of persons under section 54(6).



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001