EEPC India today sought clarification on policy with regard to export duty on galvanised steel at Kolkata port. The development follows a recent move by Kolkata Port to impose 20 per cent export duty on galvanised steel, resulting in piling up of the consignment by steel manufacturers there."A large number of shipments of major primary steel manufacturers are being held up due this confusion at the Kolkata Port," EEPC India, (formerly known as Engineering Export Promotion Council) said in a statement expressing "concern over the stoppage of exports due to sudden demand of the Customs Authorities for 20 per cent Export duty." At a time when engineering exports was down by 8.33 per cent during April-October 2012, such a stoppage in only one port of country will create considerable problems in halting the decline in exports in the current year," said EEPC India Chairman Aman Chadha.
Source: Money Control
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