Importers finding gaps in India’s 12% steel safeguard duty: JSW Steel’s Jayant Acharya
One of the workarounds is the misuse of the Advance Authorization Scheme, which allows duty-free imports of raw materials for export-linked production. Importers get 18 months to export the finished product to prevent paying the safeguard duty. Some non-automotive importers are using this scheme to buy cheaper steel from overseas and sell the finished goods … Read more