TMI BlogExport duty on iron ore and certain steel items and central excise duty on large cars revisedX X X X Extracts X X X X X X X X Extracts X X X X ..... Export duty on iron ore and certain steel items and central excise duty on large cars revised - News and Press Release Dated:- 14-6-2008 - News - Certain changes have been carried out in the rates of export duty and Central Excise duties today. Export duty on iron ore was so far being levied at specific rates. Lumps, and fines having iron content exceeding 62% were charged to duty of Rs.300 p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er MT, while the duty leviable on fines with iron content up to 62% was Rs.50 per MT. In order to further strengthen a policy regime that enables conservation of good quality ore and ensures its availability to domestic industry at a reasonable price, the effective rate of duty on iron ore has been enhanced to a uniform rate of 15% ad valorem, irrespective of iron content. Flat-rolled products o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f iron and steel, including galvanized products, and pipes and tubes that attracted export duty ranging from 5% to 15% ad valorem, have been fully exempted from export duty. The rate of export duty on long products such as bars and rods; angles, shapes and sections and wire has been increased from 10% to 15%, to improve their availability in the domestic market. Central Excise duty on large cars ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , multi utility vehicles (MUVs) and sports utility vehicles (SUVs), of engine capacity exceeding 1500 cc, mostly used by the affluent sections, has been increased. These would now be chargeable to a specific rate of duty in addition to the existing ad valorem rate of 24%. For cars, MUVs and SUVs of engine capacity ranging from 1500 cc to 1999 cc, a specific duty of Rs.15,000 per unit has been impo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed while for those having an engine capacity of 2000 cc and above, the specific duty is Rs.20,000 per unit. There is no change in the duty applicable to cars of engine capacity upto 1500 cc. Notification Nos. 77 to 80/2008-Cus and Nos. 39 and 40/2008-CE all dated 13th June, 2008 have been issued to implement these changes. They shall come into force with immediate effect. Customs - 80/2008 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - dated June 13, 2008 Rescinds notification regarding - Grants exemption to iron ore fines of Fe content 62% and below Customs - 79/2008 - dated June 13, 2008 Export duty on iron ore hiked to 15 per cent ad valorem irrespective of iron content Customs - 78/2008 - dated June 13, 2008 Export duty leviable on iron ores and concentrates, all sorts Customs - 77/2008 - dated June ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 13, 2008 Changes in export duty on steel items - Duty on bars, rods and angles hiked Central Excise - 40/2008 - dated June 13, 2008 Addition in concessional rate of Central Excise duty on specified goods of Chapter 87 Central Excise - 39/2008 - dated June 13, 2008 G overnment hikes excise duty in CHAPTER 87 - Vehicles other than railway or tramway rolling-stock, and parts and acces ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sories thereof - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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