Surcharge on customs duty reduced.
Steel purchased for Gujarat relief work to be exempt from Excise duty.
Higher outlay on infrastructure projects. |
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Custom duty on seconds and defective (on hot rolled coils) increased to 40% from the earlier 35%.
Custom duty on ship breaking scrap increased to 15% from the current 5%. CVD (counter veiling duty of 16%) and SAD (special additional duty) are exempted.
Custom duty on graphite electrode of size above 24'" reduced to 15% from the earlier 25%. Custom duty on refractory raw material (micro silica/fume silica) reduced to 25% from the earlier 35%. |
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Finance minister reaffirmed the thrust on infrastructure development by announcing new infrastructure projects.
Peak customs duty reduced from 30% to 25%.
Decrease in freight rate by 5.3%. Confessional freight for short distance transportation.
Tax sops maintained for the housing sector.
Surcharge on corporate tax halved from the current 5% to 2.5%. |