voda schreef op 19 januari 2022 06:50:
Indian Steel Association Lays 8Point Agenda as Budget Expectations
Strategic Research Institute
Published on :
19 Jan, 2022, 5:24 am
Indian Steel Association lays down a focused 8-point agenda as Budget 2022-23 expectations to help create a Level Playing Field to Indian steel makers. Indian Steel Association President Mr Dilip Oommen said “As a vital contributor to the economy, Steel Industry looks forward to the Union Budget 2022-23 for more fund allocation and the front loading for Government Infrastructure projects that will augment the metal’s demand, apart from zero import duty on input raw materials for a level playing field. These measures are imperative to promote domestic production that will give a much-needed push for self-reliance, besides providing an edge against foreign steel manufacturers. There is also an immediate requirement of a policy on green economy and green financing for future steel capacity building while ensuring a level playing field.”
Indian Steel Association Secretary General Mr Alok Sahay added "ISA's submission to the government ahead of the Union Budget has covered a wide spectrum of concerns of the Indian steel players. Our memorandum highlights the issues that need to be resolved for the steel sector to grow from the current installed capacity of 144 million tonnes to 300 million tonnes, as laid down by the National Steel Policy unveiled in 2017. Reduction and rationalization of certain duties along with certain policy measures will help create a Level Playing field in the Global arena specially in a context where 2/3rd of imports from Countries having FTA with India arrive at zero basic customs duty, who do not incur similar costs. We humbly request the finance ministry to consider our memorandum and hope that the government intervenes with the required measures."
1) Reduction of Basic Customs duty on Coking coal, SS Scrap, Nickel to nil since the availability of these input raw materials is very low
2) Bringing Petrol, Oil, Lubricants and natural gas under the purview of GST, since no input credit is available on these inputs
3) Waiver of Coal Cess & Refund of Input tax credit on GST compensation cess of INR 400 per tonne of coal consumed for domestic steel sales
4) Steel Import Monitoring System needs to be integrated with real-time import database & Indian Customs Electronic Gateway ICEGATE to bring in discipline and make the SIMS more meaning full
5) Removal of Lesser Duty Rule as it is not binding upon WTO Members and its application is optional. Due to the LDR being applicable in India, majority of tariff remedial measures imposed remain ineffective and become redundant quickly.
6) Inclusion of Iron and Steel in RoDTEP scheme to bring Indian steel industry at par with global competitors and boost export competitiveness of the downstream industries using steel as a major input raw material
7) The Ministry of Finance needs to review restoration of Antidumping Duties and Countervailing Duties suspended by the Government
8) Notifying Antidumping duties on Hot Rolled Steel, Cold Rolled Steel, Color Coated Steel and Wire Rods recommended by DGTR after sunset review investigation.