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Several Export Consignments Were Stranded in The Port Area

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Core Tip: Business Standard reported that export of galvanized steel from Kolkata port has been hit by a sudden move of the customs authorities in Kolkat

Business Standard reported that export of galvanized steel from Kolkata port has been hit by a sudden move of the customs authorities in Kolkata to impose 20% export duty on the commodity.

A spokesperson of Engineering Export Promotion Council said that "From last week the custom authorities have suddenly started imposing 20% export duty on galvanized steel, which has severely impacted the export of steel from Kolkata. Except, Kolkata, no other port has been imposing such duty on steel."

The EEPC official said that several export consignments were stranded in the port area due to the confusion surrounding sudden imposition of the duty.

According to the second schedule of the customs tariff, all products under HS Code 7210 are subject to 20% export duty.

EEPC spokesperson said that however, so long no such duty was being imposed and Kolkata port was the only port to impose such duty.

Exporters have requested EEPC to take up the matter with the customs authorities and include flat rolled products of iron or non alloy steel, plated or coated with Zinc, in the exemption category.

 
 
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