Govt may soon end import tax on steel, iron - report

10/04/2009 12:00 - 706 Views

NEW DELHI (Reuters) - India may abolish a 5 percent import tax on iron and steel after a national election in April and May, the Financial Express reported on Tuesday, citing anonymous official sources.

The paper reported the sources said the duty could be phased out in the next one to two months as the domestic industry has started to recover and would not be adversely affected by the move.

India had imposed the import duty in November on specified steel and iron products to protect domestic producers in the face of falling commodity prices.

The paper also reported India was considering demands from domestic steel makers for anti-dumping duties on cheap steel inputs from countries including China.

Tue Apr 7, 2009 11:12am IST

Source: in.reuters.com