Excise duty on iron ore
We bring Iron ore in lumps form and after processing sell it as iron ore lumps and fines I would like to know the status of excise duty on such an ore
Now as per chapter note No.4 to chapter 26 of tariff, which has been inserted from the budget 2011-12, the process of converting ore into concentrate is amount to manufacture, therefore, liable to duty as per tariff with effect from 01.08.2011, the date of enactment of finance bill, 2011.
Please note We are not manufacturing iron ore concentrate but we are only upgrading the ore contents from lower to higher hence it may not coming under concentrate as per your above insertion .
shashi Kant Gupta