09
May
14:23
India eyes reducing tax on scrap
Indian steel scrap consumption is rising, and mills are procuring scrap from imports as well as the domestic market. Import comes with zero duty for ferrous scrap; however, domestic scrap procurement attracts an 18% goods and service tax (GST). To support the domestic scrap generation and reduce dependency on imports, the finance ministry may revise the GST on raw materials for the recycling industry.
The GST is expected to fall from the existing 18% to 5%, Minis…
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Anonymous
Very good overview of the weekly steel market.
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