GSTnews item4 July 2016
Minimum import price for steel may be extended by six months
News Update
Minimum import price for steel may be extended by six months
The minimum import price (MIP) for steel imposed in February for six months could be extended by another six months from August 31, the current date of expiry. Heeding the demand of primary steelmakers, the steel ministry has already recommended to the Prime Minister’s Office (PMO) extension of the MIP, sources said.India had imposed the tariff measure on 173 products to rein in cheaper imports from China, Japan and Korea among others in the range of $341-$752 per tonne.
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