ANNOUNCEMENT 05 Mar 2012In March 2012, the government of India announced a change in export taxation.
NUMBER OF INTERVENTIONS
Addendum No. 15 to Rates Circular No. 36 of 2009 - 5 March 2012
On 5 March 2012, the Ministry of Railways through Addendum No. 15 to Rates Circular No. 36 of 2009 decreased the Distance based Charges on freight of iron ore that is to be exported and used in the production of iron and steel.
The Distance based Charge applicable on such iron ore transportation was earlier set at a rate ranging from "Rs. 1600 per tonne" to "125% of base freight rate plus Rs. 1600 per tonne" depending on the distance of transport. This additional charge has been reduced to a rate ranging from "Rs. 1125 per tonne" to "125% of base freight rate plus Rs. 1125 per tonne".
The reduced rates are applicable from 6 March 2012. The rates were again reduced in September 2015 (see related measure).