Posted on 13/05/2013 in category Legislation

To BIR member companies involved in metal scrap trade with India

BIR’s Indian member association MRAI informed the BIR Secretariat that the Government of India, Ministry of Finance, has been issuing two customs notifications on 8 May 2013 with immediate effect.

These notifications (nr 25/2013 and 26/2013) are modifying the import duty structure as follows :

  • Aluminium, ferrous (iron and steel) and stainless steel scrap : increase of basic customs duty from 0% to 2.5%
  • Brass scrap : increase of the special additional duty of customs (SAD) from 0% to 4%.

MRAI has expressed its disappointment towards the Indian Government, stating that these measures will hinder the use of metal scrap in India, impact the domestic scrap operations and lead to an unnecessary price increase of finished products.

The full texts of the notifications are available on the members only page of the BIR website using your login details.