19
Jul
09:27
Indian steelmakers seek ferrous scrap transaction tax easing
The All India Induction Furnace Association (AIIFA) has petitioned the finance ministry to remove the goods and service tax (GST) on dealer to dealer transactions of ferrous scrap.
AIIFA accounts for 35% of the nation’s steel production capacity. “Amid increased scrutiny by GST authorities, the association suggested the removal of 18% tax in transactions among dealers and imposition of the levy on its sale to manufacturers under the reverse charge mech…
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Anonymous
Very good overview of the weekly steel market.
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