India hikes iron ore GST to 18pc to streamline duty

India has raised the goods and services tax (GST) for iron ore from 5pc to 18pc to amend the inverted duty structure in the industry, but the government has not finalised a date on the implementation. The country's GST council in its 45th meeting increased the GST on ores and concentrates of metals such as iron, copper, aluminum, zinc and few others to 18pc from 5pc. For ore and specified metals,…