Government abolished export duty on iron ore pellets
Q. Government has abolished export duty on iron ore pellets to 0 from what percent?- Published on 06 Jan 16a. 3
b. 4
c. 5
d. 6
ANSWER: 5
Government of Indian abolished export duty on iron ore pellets, from 5 to 0 percent in a move that will make the commodity more competitive amidst weakening prices and falling demand. In the year 2014, government has levied a 5% export duty on iron ore pellets which are value added products of leftover low grade iron used in still making. Notification in this regard was issued by Central Board of Excise and Customs. Pellet Manufacturers Association of India Secretary General, Deepak Bhatnagar has said that industry had been lobbying the withdrawal of export duty since 2014 when it was first levied and that pellet industry’s capacity utilisation has fallen to 35%.
