DUTY HIGHLIGHTS PERTAINING STEEL SECTOR IN BUDGET-2002-03

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/BACKGROUNDER/

• Customs duty on refractory raw materials, low silica limestone and graphite electrodes has been revised as follows in the year 2002-03 budget:

Commodity	From (%)	To (%)
Natural Graphite Powder	35	25
Andalusite	25	15
Fused Mullite	25	15
Aluminous Cement	35	25
Silicon Metal (99 per cent purity)	35	25
Micro/Fumed Silica	35	25
Calcined Alumina	35	25
Brown fused Alumina	35	25
Sintered/Tabular Alumina	35	25
Fused Zirconia	35	25
Sodium Hexametaphosphate	35	25
Barcon Carbide	35	25
Silicon Carbide	35	25
Reactive Alumina	35	25
Low Silica Limestone (less than 0.6 per cent Silica Content)	25	15
Graphite Electrodes (above 24 inches)	25	15

• HR SS Coils for coin blanks exempted from customs duty.
• Customs Duty on Metcoke imported by cores technology based steel plants reduced from 15 per cent to 5 per cent.
• Customes Duty on HRGO/HRNGO reduced from 35 per cent to 25 per cent.
• Customs Duty on ships for breaking has been increased from 5 per cent to 15 per cent along with exemption from CVD and SAD.
• Customs duty on seconds and defectives of steel increased to the bound rate of 40 per cent.
• Non-Ferrous Metals

1. Custom Duty on copper, zinc and lead has been reduced from 35 per cent to 25 per cent.
2. Custom Duty on tin reduced from 25 per cent to 15 per cent.
3. Custom Duty on aluminum reduced from 25 per cent to 15 per cent.