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Excise duty on iron ore Resolved Excise

Jul 14, 2018 The affected revenue streams include Goods and Services Tax (GST), Import and Excise duty on petroleum products and royalty on iron ore and excise duty on alcoholic beverages. However, the strengthened enforcement of tax compliance, suspension of duty and tax exemptions and the implementation of the Treasury Single Account (TSA) in recent months are expected to improve theCentral Excise Duty on Iron and Steel Products and articles thereof 2.1 Introduction India is the fourth largest steel producer in the world and Iron and steel was among the top three revenue yielding commodities during the year 2012-13. Central Excise Tariff Act, 1985 classifies Iron Steel under Chapter 72 of the Schedule to the Act, ibid.

Chapter II Central Excise Duty on Iron and Steel

(40) This disposes of all the points raised, except one, viz., that because the iron ore which is made the subject of excise duty under the statute is under certain regulations required to be exported and may therefore be subjected to customs duty, Parliament was not competent to impose additional excise dutyJul 17, 2018 The affected revenue streams include Goods and Services Tax (GST), Import and Excise duty on petroleum products and royalty on iron ore and excise duty on alcoholic beverages. 45. However, the strengthened enforcement of tax compliance, suspension of duty and tax exemptions and the implementation of the Treasury Single Account (TSA) in recent ...Jul 14, 2018 The affected revenue streams include Goods and Services Tax (GST), Import and Excise duty on petroleum products and royalty on iron ore and excise duty on alcoholic beverages. However, the strengthened enforcement of tax compliance, suspension of duty and tax exemptions and the implementation of the Treasury Single Account (TSA) in recent ...

Iinterest on delayed refund of Excise duty under excise

The affected revenue streams include Goods and Services Tax (GST), Import and Excise duty on petroleum products and royalty on iron ore and excise duty on alcoholic beverages. 45. However, the strengthened enforcement of tax compliance, suspension of duty and tax exemptions and the implementation of the Treasury Single Account (TSA) in recent ...

Indirect TaxesCustoms ExciseService TaxGST Duty etc

The duty free imports under GST regime will be restricted to Basic Customs Duty. Exemption from the additional duties of Customs, if any, under section 3(1), 3(3) and 3(5) of the Customs Tariff Act, 1975 and exemption from Central Excise duty will be available for goods specified under the fourth Schedule to the Central Excise Act.Indian Iron Ore Mines Auction. Indian Iron And Steel Industry - H1-fy20. Indian Iron Steel Industry Cy19 Vs Cy18. Indian Iron Steel Industry Fy20 Vs Fy19. Regular report. Iron Ore Insight. Coal Review. Scrap Monthly Review. Daily Steel Report.

72 Iron and steel 73 Articles of iron or steel 74 Copper

Custom Duty Export Data Import Data 72011000 HS Codes Classification of Non-alloy pig iron containing by weight 0.5% or less of phosphorus View Import Duty View Export Data View Import Data 72012000 HS Codes Classification of Non-alloy pig iron containing by weight more than 0.5% of phosphorus View Import Duty View Export Data View ...Jun 16, 2021 Seek suplly of diesel without excise duty and road cess. Seek suplly of diesel without excise duty and road cess ... now iron scrap was being dropped inQnty. 20000 ( /- 10%) MT in lots of 4000 MT. Type of ore High Grade Iron Ore Fines. Bidding basis concerned stack pile (N/FP/21/V/2F). Vyasankere Iron Ore Mines, Hospet ML No. 2416 (Excise Duty of 6.678% is part of the price and MSPL Ltd., will issue excise invoice to the buyer).

Excise duty at point of sale SC Business Standard Column

Indirect Taxes/Customs Excise/Service Tax/GST, Duty, etc. Industries Minsitry wants customs duty on capital goods raised - 29/11/13. E-payment of tax above Rs 1 lakh a must - 28/11/13. Indias corporate tax rates among highest globally Report - 27/11/13. India may spum EU demand for dutyThe Tribunal itself earlier in number of cases viz. Commissioner of Central Excise vs. Vinay Cement Ltd., 2002 (147) E.L.T. 74 Commissioner of Central Excise vs. Napuk Tea Estate, 2007 (219) E.L.T. 178 and Dhunseri Tea Estate vs. Commissioner of Central Excise, 2011 (274) E.L.T. 590 has held that statements of duty paid submitted in RT-12 ...Apr 26, 2021 The Customs, Excises, and Service Taxes Appellate Tribunal (CESTAT), Delhi bench reiterated that raw material is not liable to confiscation under Rule 25 of Central Excise Rules, 2002.. The appellant M/s Sky Alloys Power Pvt. Ltd. are engaged in the manufacture of Sponge Iron, MS Ingots, and Silico Manganese. Their premises were got searched on 7 November 2015 and 8 November

FrancoNevada Provides Iron Ore Royalty Publicity TAX

Mar 01, 2021 The tax rate for the extraction of ferrous (except for iron ore), non-ferrous, and alloying metals has been increased from 5% to 6.25%. The tax rate of iron ore mining has been increased from 8% to 11% or 12%, depending on the average value of iron ore according to the IODEX index 58% FE CFR China for the reporting period.

V Nagappa Thimmappa And Ors vs Iron Ore Mines Cess

Aug 23, 2011 Before the issuance of this notification ore was charged to excise duty as per tariff. Now as per chapter note No.4 to chapter 26 of tariff, which has been inserted from the budget 2011-12, the process of converting ore into concentrate is amount to manufacture, therefore, liable to duty as per tariff with effect from 01.08.2011, the date of ...The revenue projections in this budget incorporate the State Governments decision to further reform iron ore royalty rates. This follows an agreement between the Government and major iron ore producers in June 2010 to lift the iron ore fines royalty rate in relevant State Agreement Acts from 3.75 per cent to 5.625 per cent, with effect ...

Proposed WA iron ore tax could cost thousands of jobs

Steel () (manufacturers get a better duty rate than importers and surtax on certain raw materials (Billets, Hot Rolled Coils, Wire Rod in coils) is 0%. Unit of measurement Kg. Flat/hot rolled iron/steel in coils, width 600mm, with pattern in relief / / ...Oct 12, 2020 In the pre-GST era, the tax rate on iron and steel was even higher at 19.5%. It included excise rate at 12.5%, value-added tax (VAT) at 5% and Central Sales Tax (CST) at 2%. After the implementation of GST from July 2017, the tax rate on the industry has been fixed and tax on its different inputs such as logistics has likewise been fixed at 5%.

Steel and Iron Ore Prices Industry News and Market

Feb 21, 2009 The centre collects revenue in the form of excise duty, forest conservation charges, corporate taxes, and so on. Apart from these taxes, some states like West Bengal impose a cess on minerals. Box 3 summarises the main payments in the case of minerals and Table 1 points out the levies across government levels at different stages of mining ...

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