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  4. Cotton & Western Mining Inc. (CWRN) Message Board

Indicates India has a 30% tax on imports like Aust

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Post# of 8059
Posted On: 11/30/2012 8:30:59 PM
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Posted By: microcaps
Re: microcaps #2997

Indicates India has a 30% tax on imports like Australia plus charge higher rail freight rate for iron ore so real tax probably closer to 40%?


"India's federal government maintains the way to crack down on illegal mining is through better enforcement of existing laws, higher export duties and improved tracking of transport.


The mines ministry has rejected a recommendation by the Shah Commission for a blanket ban on exports.


The government instead decided to impose a 30 percent duty on all iron ore exports despite opposition from the mines ministry. It could raise this further or hike rail freight rates, where it already charges a much higher rate for ore intended for export."



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