Union Budget 2021-22: Indian Aluminium Industry seeks hike in basic custom duty on primary aluminium and scrap
The Aluminium Association of India (AAI) has asked the government to hike the basic custom duty on aluminium in the forthcoming Union Budget 2021-22. The Industry has sought support to raise imports duty on primary aluminium and scrap to 10% from current 7.5% and 2.5% respectively.
AAI said, "The Indian Aluminium industry has sought immediate Government support to tide over this challenging phase by means of supportive measures in the forthcoming Union Budget 2021-22.”
AAI said Union Budget recommendations are to raise “the basic custom duty on aluminium scrap at par with primary metal to proposed 10 per cent, as in line with other non-ferrous metals like copper, zinc, lead, nickel, tin etc...elimination of cess on coal (GST Compensation cess of Rs 400/MT) to support highly power intensive industries like aluminium", among others.
In addition to this, the Aluminium Association of India has urged decline in basic custom duty and correction of inverted duty structure on critical raw materials like aluminium fluoride and coal tar pitch.
"The Indian aluminium industry is going through a challenging phase and is under immense threat by rising imports, declining domestic market share, increasing production and logistics costs," AAI said.
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