It is reported that during April to September 2008, India Government took a number of fiscal and administrative steps to contain steel prices.
These include waiver of import duty on all non alloy steel, pig iron, sponge iron, ferroalloy, zinc and met coke, complete withdrawal of countervailing duty on Thermo Mechanically Treated bars & structurals, imposition of export duty on certain iron and steel items as well as withdrawal of Duty Entitlement Pass Book facilities on certain steel items.
Gist of fiscal measures taken during the year for achieving price stability April to September 2008 is
1. Import duty on all non alloy steel, zinc, ferroalloys and metcoke revised to nil from 5% with effect from April 29th 2008.
2 Countervailing Excise duty withdrawn on TMT bars and structurals
3. Export duty at the rate of 15% imposed on May 10th 2008 on all flat products. This was subsequently withdrawn on June 13th 2008 on assurance of major steel producers.
5 Export duty at the rate of 15% imposed on May 10th 2008 on pig iron, sponge iron, scrap, ingots and all categories of non alloy semi finished steel.
6. Export duty at the rate of 10% was imposed on long products such as bars, wire rods, angles etc on May 10th 2008. This was later revised to 15% with effect from June 13th 2008
7. Ad valorem export duty of 15% imposed on iron ore of all categories and grades with effect from June 13th 2008
8. 5% import duty on pig iron, semi finished, flat and long category of products with effect from November 18th 2008.
Source : SteelGuru