ANNOUNCEMENT 01 Apr 2011
In April 2011, the government of India announced a change in export taxation.NUMBER OF INTERVENTIONS
1
SOURCE
FM Announces Fresh Sops in Reply to Debate on FB2010, http://www.worldtradescanner.com/FM%20Announces%20Fresh%20Sops%20in%20Reply%20to%20Debate%20on%20FB2010.htm
WTO. (2011). REPORT ON G20 TRADE MEASURES 'May 2011'. Available at http://www.wto.org/english/news_e/news11_e/g20_wto_report_may11_e.doc
Indian Government. (31 October 2008). Changes in duties rates including ATF. To be obtained at
http://www.pib.nic.in/release/release.asp?relid=44359
Indian Government. (12 December 2008). Revision of Export Duty Rates on Iron Ore. To be obtained at
http://pib.nic.in/release/release.asp?relid=45602
WTO, OECD & UNCTAD. (2010). REPORT ON G20
TRADE AND INVESTMENT MEASURES. Available at http://www.unctad.org/en/docs/wto_oecd_unctad2010d1_en.pdf
For the evolution of export taxes on iron ore see the following notifications of Indian Customs:
- Notification No. 56/2010-Customs, http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k10/cs-tarr2k10/cs56-2k10.htm
- Notification No. 147/2009-Customs, http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k9/cs147-2k9.htm
- Notification No. 130/2008-Customs, http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k8/cs130-2k8.htm
- Notification No.117/2008-Customs, http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k8/cs117-2k8.htm
- Notification No.79/2008-Customs, http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k8/cs79-2k8.htm
According to the Permanent Delegation of India to the WTO, the government of India has abolished its iron ore export taxes as of 1 April 2011. The export restrictions on further iron ore products remain in place.
On 29 April 2010, India had raised the export duty from 10 per cent to 15 per cent on Iron Ores and Concentrates. This was announced by the finance minister in his reply to the debate on the Finance Bill 2010-11.
Initially, the Indian government had re-imposed export duties on iron ore products on 24 December 2009. For iron ore fines, the tariff hasbeen raised from zero to 5 percent. For iron ore other than fines, theimport tariff was raised from 5 percent to 10 percent.
Previously, the Indian government had reduced export duties on ironore fines. After a reduction of the export duty to Rs. 200 per tonne on31 October 2008, the government transformed the duty into an 8 percentad valorem duty on 7 November 2008. Also, the export duty on iron orefines was abolished on 7 December 2008. On the same day, export dutieson all other varieties of iron ore were reduced to 5 percent.