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Govt raises steel, aluminium import duty by 2.5%

Government has raised basic customs duty on base metals such as iron, steel, copper, nickel and aluminium by 2.5 per cent. Finance Minister Arun Jaitley on Wednesday approached Parliament seeking to increase the basic customs duty by 2.5 per cent on specified goods falling under Chapter 72. 

Under the Central Board of Excise and Customs (CBEC), this pertains to base metals which includes commodities such as iron and steel, copper, nickel, aluminium, lead, zinc, tin, tungsten (wolfram), molybdenum, among others.

Domestic steel producers are demanding <g data-gr-id="13">increase</g> in import duty to check cheap imports from China, Korea and Japan. In June, the government raised basic customs duty (BCD) on some long and flat steel products by 2.5 <g data-gr-id="12">per cent</g>. 
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