Budget 2019: Steel industry seeks changes in various custom duties

Indian Steel Association (ISA) presented its budget 2019 recommendations. It wants to various changes made in the custom duty for steel materials in the upcoming budget 2019-2020, which will be presented on 5th July by FM Nirmala Sitharaman.

ISA represents and comprises of all the Public Sector and Private steel enterprises of India. 

Here, what all memorandum of recommendation by ISA said to government for the budget 2019-2020:

-India should discourage imports of non-essential steel items, such as 'hot rolled items' and 'color coated steel'. The country`s current account deficit (CAD) will be increase as the resultant in the increase in non-essential steel imports to India, which is a serious concern.
-Asked government to reduce import duty on raw materials to null rate and to refine of inverted duty structure
-Association suggested to apply null import duty to all input raw material which India import for promoting value addition within the county
-Association asked government to make custom duty on Pet coke from 2.5 per cent to zero per cent. 
-ISA demanded zero per cent custom duty on anthracite coal from 2.5 per cent
-The association asked to remove all the import duties on other raw material used in steel making such as iron, zinc, paint, oils, lubricants, etc. 
-Suggested to rationalize GST and inclusion of Petroleum products, natural gas and electricity under its scope to allow input tax credit
-ISA recommended to subsume all mining related taxes into GST so that input tax credit can be utilized by producers