Construction Industry News
The government of Goa urged the Ministry of Finance to reduce the excise duty on low-grade iron ore to zero.
Days after the center raised tariffs on iron ore to 50%, Prime Minister Pramod Sawant met Union Finance Minister Nirmala Sitharaman and urged her not to impose tariffs on low-grade iron ore on Monday.
In an effort to increase domestic availability, the Center has increased the excise tax on iron ore exports to 50%.
In a statement released last night, the Prime Minister's Office said in its May 21 vide notification that the center has imposed a 50% import duty on exports of all types of ore.
Since Goa's ore is mainly of low quality and is not processed for the nation's steel production, the state has urged the Ministry of Finance not to consider export duties in lieu of 505 on low-grade iron ore exports, as it has been since 2016. done, the CMO said.
The state government further told the media that this is necessary for sustainable mining in Goa.
In Goa, the iron ore mining industry has come to a standstill since March 2018 after the Supreme Court suspended all mining leases.
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