Amount of Security for Import of Iron & Steel Products
Article Submitted by:
Mr. Yogesh Chopra
Advocate
Those Registered Dealers who are importing Iron & Steel from outside Uttarakhand have to deposit security before obtaining fresh waybills from the department. The approximate value is assumed for the following four different categories:
Category 1: Rs.25,000/- per ton for Pig Iron, Sponge Iron, Cast Iron & Various Iron Scrap
Category 2: Rs.35,000/- per ton for Ingate, Bloom, Velet, Slab, Steel Sameej
Category 3: Rs.40,000/- per ton for Steel Bars, Angle, Channel, Tej, Zed section
Category 4: Rs.48,000/- per ton for Wire, Steel Tubes, Sheets & Strips and any type of Iron & Steel specified in Sec 14 of CST in which Tools, Alloys & Special Steel, Wheels & Axel are not included.
Therefore, an order is passed u/s 20(5) that Iron & Steel traders importing goods from outside state has to deposit security as under on above mentioned categories, before obtaining fresh way bills from the department:
Category 1: Rs.1,250/- per metric ton
Category 2: Rs.1,750/- per metric ton
Category 3: Rs.2,000/- per metric ton
Category 4: Rs.2,400/- per metric ton
The above security is applicable for any Iron & Steel import w.e.f. 30.10.2014.
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Article Submitted by:
Mr. Yogesh Chopra
Advocate
