Customs Duty on raw materials for Cement reduced to 2.5%

The Finance Minister, Shri Mukherjee announced the enhanced rate of export duty for all types of iron ore at a unified 20% ad-valorem. Full exemption from export duty has been provided to iron ore pellets to encourage the value addition process for fines.

Announcing relief for the cement industry, Shri Mukherjee said that the basic customs duty on two critical raw materials for this industry viz. petcoke and gypsum has been reduced to 2.5%.

Cash dispensers and their parts have been fully exempted from basic customs duty, to drive the financial inclusion agenda of the Government.

Source : Equity Bulls

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