Indian Govt Cuts Duty Drawback on Exports of Finished Steel Products
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Ministry of Finance, Govt of India on 28th Jan'20 issued a circular on duty drawback rate on export of steel products. According to the circular, the duty drawback rate on flat-rolled steel products has been cut down from 1.8% to 1.6%. This notification shall come into force on the 4th Feb'20.
However, the duty drawback structure remained unchanged for other steel commodities like iron ore, pellets and manganese ore.
For entire notification, pls click here
Drawback rate
| Chapter no. | Description of goods | Drawback rate as on 28 Jan'20 | Drawback rate as on 06 Dec'18 |
| 7201 | Pig iron and spiegeleisen in pigs, blocks or other primary forms | 1.5% | 1.5% |
| 7202 | Ferro alloys | 1.1% | 1.1% |
| 7203 | Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having minimum purity by weight of 99.94%, in lumps, pellets or similar forms | 1.1% | 1.1% |
| 7204 | Ferrous waste and scrap; remelting scrap ingots of iron or steel | Nil | Nil |
| 7206 | Iron and non-alloy steel in ingots or other primary forms (excluding iron of heading 7203) | 1.1% | 1.1% |
| 7207 | Semi-finished products of iron or non-alloy steel | 1.5% | 1.5% |
| 7208 | Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, hot-rolled, not clad, plated or coated | 1.6% | 1.8% |
| 7209 | Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, cold-rolled (cold-reduced), not clad, plated or coated | 1.6% | 1.8% |
| 7210 | Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, clad, plated or coated | 1.6% | 1.8% |
| 7211 | Flat-rolled products of iron or non-alloy steel, of a width of less than 600 mm, not clad, plated or coated | 1.6% | 1.8% |
| 7212 | Flat-rolled products of iron or non-alloy steel, of a width of less than 600 mm, clad, plated or coated | 1.6% | 1.8% |
| 7213 | Bars and rods, hot-rolled, in irregularly wound coils, of iron or non-alloy steel | 1.6% | 1.8% |
| 7214 | Other bars and rods of iron or non-alloy steel, not further worked than forged, hot-rolled, hot-drawn or hot-extruded, but including those twisted after rolling | 1.6% | 1.8% |
| 7215 | Other bars and rods of iron or non-alloy steel | 1.6% | 1.8% |
| 7216 | Angles, shapes and sections of iron or non alloy steel | 1.6% | 1.8% |
| 7217 | Wire of iron or non-alloy steel | 1.6% | 1.8% |
| 2601 | Iron ore and pellets | 1% | 1% |
| 2602 | Manganese ore | Nil | Nil |
