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India Slashes Central Value Added Tax Rate by 4% as Steel Prices Drop; Outlook Slightly Positive for 2009


Industry Segment: Metals & Minerals | Word Count: 685 Words

BANGALORE, INDIA--December 14, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--As part of a stimulus package of $4.08 billion to boost demand for commodities in the market, India's government recently announced a reduction in central value added tax (CENVAT) by an ad-valorem rate of 4% across the board with immediate effect until the end of the current fiscal year.

Companies featured: JSW Steel Limited (BSE:500228), Ispat Industries Limited (BSE:500305), Steel Authority of India Limited (BSE:500113), Tata Steel Limited (BSE:500470), ArcelorMittal (NYSE:MT)

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