Customs Duty Cut on Anthracite Coal, PCI Coal, Coking Coal, Naphtha, PVC and Ferro Nickel

New Package for Steel Industry

· Hike in Export Duty by 15%

· Iron Ore Export also Discouraged by Duty <20% Imposition

· Ferro Nickel and Coal Duty Cuts to balance Export Duty

· Plastic on Inputs, Naphtha, PPU PVC

· Market turns negative, Jindal Steel down 15% Rate Cuts

[Notification No. 26/2022-Customs dated 21 May 2022]

Seeks to further amend notification No. 50/2017- Customs dated 30th June, 2017.

G.S.R. …..(E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017, namely:-

In the said notification, - I. in the Table, -

(1) after S. No. 141 and the entries relating thereto, the following S. No.s and entries shall be inserted, namely: -

(1)	(2)	(3)	(4)	(5)	(6)
“141A	2701	(a) Anthracite/Pulverized coal injection (PCI) coal; (b) Coking coal	Nil	-	-
141B.	2704	Coke and semi-coke of coal, of lignite or of peat, whether or not agglomerated	Nil	-	-
141C	2710	Naphtha	1%	-	-”;

(2) after S. No. 191 and the entries relating thereto, the following S. No. and entries shall be inserted, namely: -

(1)	(2)	(3)	(4)	(5)	(6)
“191A.	2910 20 00	Methyloxirane (propylene oxide)	2.5%	-	-”;

(3) against S. No. 267, in column (3), for the entry, the entry “All goods” shall be substituted;

(4) after S. No. 364C and the entries relating thereto, the following S. No. and entries shall be inserted, namely: -

(1)	(2)	(3)	(4)	(5)	(6)
“364D.	7202 60 00	Ferro-nickel	Nil	-	-”;

2. This notification shall come into effect on the 22nd day of May, 2022.

[F. No.354/12/2022-TRU]