Itac on 21 June announced the creation of rebate items on “Flat-rolled products of iron or non-alloy steel, of a width of less than 600 mm, not clad, plated, or coated, not further worked than cold-rolled (cold reduced), other, with a thickness of 0.30mm or more but not exceeding a thickness of 1.60 mm, with a carbon content of 0.5% or more, classifiable in tariff subheading 7211.29, in such quantities, at such times and subject to such conditions as Itac may allow by specific permit”; and “Flat-rolled products of iron or non-alloy steel, of a width of less than 600 mm, painted, varnished or coated with plastics, of a thickness of 0.5 mm or more but not exceeding 1 mm, with a carbon content by mass of 0.17% or more but not exceeding 0.27%, classifiable in tariff subheading 7212.40, in such quantities, at such times and subject to such conditions as Itac may allow by specific permit” on which comment is due by 05 July.
The application was lodged by Specstrip (Pty) Ltd who reasoned that:
(a) The subject products are currently not manufactured in the Southern African Customs Union (SACU) region.
(b) A duty relief on the products will decrease the costs of manufacturing and transportation for the SACU downstream manufacturing industries.
(c) The products are also used in the packaging of final products destined for the export markets. As such, a customs duty relief will enhance the competitiveness of downstream SACU industries in export markets.
Story by: Riaan de Lange