After increased scrutiny by GST authorities, steel companies that use scrap metal as input have suggested removal of tax on sale of the raw material between dealers and imposition of the levy on its sale to manufacturers under reverse charge mechanism.
19 Jul, 2021 - Special Correspondent
The up-cycle witnessed in steel prices over the last one year is likely to show some respite now, largely on account of the improving supply-side situation, CARE Ratings has said, though it is unlikely that the global prices will witness any steep correction from its peak levels.
19 Jul, 2021 - Special Correspondent
Prices have boomed worldwide this year, smashing record after record. Roaring industrial demand is propelling those rallies, with plants straining to boost supply after lying dormant during the pandemic. On top of that, powerhouses China and Russia are trying to limit exports to help other industrie
We upgrade NMDC to Buy pursuant to the company’s board approving the scheme of arrangement for demerger of its steel plant. In our view, the board’s approval is a definitive step in the direction of possible divestment of the steel plant and the Street has not attributed any value to the plant (CWIP
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