Budget 2021: Aluminium industry seeks raise in basic custom duty
The industry has also sought reduction in basic custom duty and correction of inverted duty structure on critical raw materials for aluminium industry value chain like aluminium fluoride and coal tar pitch
PTI | January 20, 2021 | Updated 08:44 IST
The industry is not able to compete effectively in the global markets as the burden of central and state taxes and levies amounting to 15 per cent of aluminium production cost puts the domestic industry in a significant disadvantage compared to its global peers
The aluminium industry has urged the government to increase the basic custom duty on primary aluminium and aluminium scrap to 10 per cent, eliminate the cess on coal among others as the sector is going through a challenging phase and is under immense threat by rising imports.
The Indian aluminium industry is going through a challenging phase and is under immense threat by rising imports, declining domestic market share, increasing production and logistics costs, , , Aluminium Industry, union budget, GST Compensation, budget
Aluminium producers seek 10% duty on imports
January 19, 2021
Eliminate GST compensation cess of ₹400/tonne on coal, Aluminium Association of India asks Centre Primary aluminium producers have urged the Centre to increase the import duty on primary aluminium and aluminium scrap to 10 per cent and reduce the customs duty on critical raw materials, such as calcined and raw petroleum coke, caustic soda and alumina.
They also want to eliminate the GST compensation cess of ₹400/tonne on coal to support highly power-intensive industries like aluminium.
Challenging times
In a representation made through the Aluminium Association of India ahead of the Budget, the producers said these measures are absolutely necessary to battle current challenges being faced by the industry in sustaining the share of the domestic aluminium demand which is today being imploded with imported aluminium as well as to make Indian aluminium more competitive in global markets to retain and boost expor
Facing a staggering 10 per cent compounded annual growth in imports over last decade, the Indian aluminium industry has sought immediate government intervention, by way of higher import duty of 10 per cent on aluminium scrap and metal, to .
Shanghai
Metal + Metallurgy China 2021
The Metal + Metallurgy China is Asia’s largest and the world s second largest exhibition of the metal and metallurgical industry unifying the fairs “China International Foundry Expo“, “China International Metallurgical Industry Expo“, “China International Industrial Furnaces Exhibition“ as well as the “China International Refractories and Industrial Ceramics Exhibition“ under one roof. The fair is held every year alternately in Shanghai and Beijing. China will be one of the strongest industrial nations in the long term. The country is by far the largest market for steel production worldwide. The Chinese steel demand is mainly influenced by the construction industry as well as the machine and vehicle construction. China also occupies a leading position in the foundry industry, the aluminium and copper consumption, as well as in the extraction of important non-ferrous metals and rare earths. This economic development is recogni