Duties & Taxes

Duty on Steel (India):

• Basic Customs Duty (BCD) varies by product (e.g., flat products ~7.5%, long products ~10%).

• Safeguard & Anti-dumping duties may apply on certain imported steel grades from China, Korea, Japan, etc.

• GST: 18% for most steel products (TMT, wire rods, billets, etc.).

• Export Duty:

  • Export duty is sometimes levied on iron ore, pellets, or semi-finished products to ensure domestic availability.

  • Example: In May 2022, India imposed 15% export duty on steel products (later relaxed in Nov 2022).