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Official Website: http://www.ifcindia.net/

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Issue No. 246

03.10.2017

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IIF representation to Ministry of Finance & GST Council regarding clarification on HSN classification of Resin Coated Sand for foundries. There was confusion in the HSN CoCoated Sand (RCS) used in thwhether it is covered under 3824 owas not clearly classified under aHS Code. The matter was taken up by IIFwith CBEC, Ministry of Finance/GST After prolonged follow up by IIF, letter clarifying that it will be claHS Code 3824 attracting 18% GSTby IIF (some units were earlier under HS Code 6815, which atGST). This issue was further clarified bFAQs released recently as proposed Hence, after the clarifications issuthe applicable GST rate on Resin Coated Sandwill be 18% instead of 28%. Please refer to the FAQs issued by the CBEC published in the Economic Times, dt. 29September, 2017, pg no. 15, serial no. 15, which is reproduced below for ready reference: Query: What is HS Code and GST rate for Resin Coated Sand? Reply: 1. HS Code 3824 covers prepared binders for foundry moulds or cores; Chemical products and preparations of chemical or allied industries (including those consisting of mixtures of natural products). 2. Thus, Resin Coated Sand falls under HS Code 3824 and attract 18% GST Appeal for Advertisement, Business Promotion Slots We are glad to inform you that 66th Indian Foundry Congress with IFEX & Cast India expo will be held at the new venue Helipad Ground, Gandhinagar, Ahmedabad.

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IIF representation to Ministry of Finance clarification on

HSN classification of Resin Coated Sand

ode for Resin he foundries or 6815, as it any particular

F Delhi office T Council.

CBEC issued assified under T as proposed classifying it tracted 28%

by CBEC vide d by IIF.

ued by CBEC, Resin Coated Sand

Please refer to the FAQs issued by the CBEC published in the Economic Times, dt. 29th September, 2017, pg no. 15, serial no. 15, which is reproduced below for ready reference:-

nd GST rate for Resin Coated

repared binders for foundry moulds or cores; Chemical products and preparations of chemical or allied industries (including those consisting of mixtures of

Coated Sand falls under HS Code

Appeal for Advertisement, Business

We are glad to inform you that 66th Indian Foundry Congress with IFEX & Cast India expo will be held at the new venue Helipad Ground,

Dates: 10-12 January, 2018 Expected Registered Delegates Exhibitors: 250+ Visitors: 10,000 + We are glad to inform you that IFEX Exhibition is almost full. This time we have planned to take an event at next level involving gpartners. Event Supporters : Till now following groups have consented.

• WFO (World Foundry Organization)

• Amafond (Italian Foundry Suppliers Association)

• Assofond (Italian Association of Foundry)

• Russian Foundry Association

• BRICS Foundry Forum

• Media Partners:

• Foundry Planet

• Foundry Gate

• Foundry magazine

1. Business Promotional Slot We appeal you to become Event Supporter the largest event of Foundry Industry in India. List of various business promotion slots is attached. Please see attached tabcomplimentary benefits against Diamond(Above Rs 10 lakhs), Platinum10 lakhs), Gold (Between Rs 3(Rs 1-3 lakhs) Categories. We are finalizing hard copy of brochure in a week time. Kindly send yougroup logo to put on the web and also to print for global publicity from now.

2

12 January, 2018

Expected Registered Delegates: 1500-1700

We are glad to inform you that IFEX Exhibition This time we have planned to

take an event at next level involving global

Event Supporters : Till now following groups

WFO (World Foundry Organization)

Amafond (Italian Foundry Suppliers

Assofond (Italian Association of

Russian Foundry Association

BRICS Foundry Forum

Partners:

Foundry Planet

Foundry magazine

1. Business Promotional Slot

We appeal you to become Event Supporter of the largest event of Foundry Industry in India. List of various business promotion slots is

Please see attached table “H” in the slots, for complimentary benefits against Diamond

Platinum (Between Rs 7-(Between Rs 3-7 lakhs) & Silver

3 lakhs) Categories.

We are finalizing hard copy of brochure in a week time. Kindly send your acceptance with group logo to put on the web and also to print for global publicity from now.

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We request you to accept the package for Gold to Diamond Category. We will be glad to offer best combo as per your budget. Kindly send your acceptance. 2. Co- Sponsorship for case study volume : “Journey To The Centre of The Melting Pot” As a single sponsorship slot, we invite your kind attention towards Slot No.1 which is going to be a memorable reference book for the current and next generation of the foundrymen. This volume will have a long shelf life and your Co-sponsorship of Rs. Seven Lakhs (USD 12000*/Euro 10,000), will be seen as a support to the foundry fraternity. More than 100 case studies are received making the volume as the reference book fnext generation. Please don’t miss this opportunity. 3. Limited Advertisement in the case study volume (Just Rs 15,000/USD 350/Euro220+ GST). Please ask for pro forma invoice to release an advertisement as per the rates given in Aand get publicity for years.

Last Date: 30th October, 2017. (Page size: 215mm X 280mm, Print area:175mm X 240mm, Format : PDF or JPEG) Registration: Delegate Registration will start from 1st Sept, 2017. GST will be extra as applicable on all tariff/slots.Pro forma invoices will be sent on selection of your business promotion slot. Looking forward to your participation and support in this largest event of Indian Foundry Industry. We will be glad to furnish more information. Please Reply to: Mr. Subodh Panchal, Co-Chairman Email: [email protected] [email protected] Mob: +919824015380

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We request you to accept the package for Gold to Diamond Category. We will be glad to offer best combo as per your budget. Kindly send

Sponsorship for case study volume : “Journey To The Centre of The Melting Pot”

As a single sponsorship slot, we invite your kind attention towards Slot No.1 which is going to be a memorable reference book for the current

ndrymen.

This volume will have a long shelf life and your sponsorship of Rs. Seven Lakhs (USD

12000*/Euro 10,000), will be seen as a support

More than 100 case studies are received making the volume as the reference book for next generation. Please don’t miss this

3. Limited Advertisement in the case study volume (Just Rs 15,000/USD 350/Euro220+

Please ask for pro forma invoice to release an advertisement as per the rates given in A-1,

215mm X 280mm, Print area:175mm X 240mm, Format : PDF or JPEG)

: Delegate Registration will start

GST will be extra as applicable on all tariff/slots. forma invoices will be sent on selection of

Looking forward to your participation and support in this largest event of Indian Foundry

We will be glad to furnish more

Mr. Jagat Shah, Chairman Email: [email protected]: (P.A.: 9377065792) Contact Secretariat, 66th IFC atC/O Plot, 46/Phase-1, GIDC, Opp. Kiran Bus Stop, Vatva, Ahmedabad

Approx Major Raw Material Prices

News Headlines..

• Indian Brass, Copper Scrap prices show up

trend; Copper Futures slightly down

• Indian Ferrous scrap stays stable ahead of

Dasera Festivals

• Indian Base metals: Lead, nickel rise on

spot demand

• Italian scrap prices decline

• Russian ferrosilicon market quiet

• Russian high carbon ferromanganese prices

may go up

• US bulk scrap market weakens in East Asia

• Taiwanese scrap, rebar markets flatten on

sentiment, holidays

• Chinese ferromolybdenum prices down

• Chinese silicon metal prices weakly stable

• Global pig iron production rises for Jan

y-o-y

ITEMS

15

Pig Iron (Mumbai)

Melting Steel Scrap

CRCA Scrap

Copper Ingot

Aluminum Ingot

3

Jagat Shah, Chairman [email protected]

Mob: (P.A.: 9377065792)

Contact Secretariat, 66th IFC at 1, GIDC, Opp. Kiran Bus

, Ahmedabad – 382 445

Approx Major Raw Material Prices

Headlines..

per Scrap prices show up

trend; Copper Futures slightly down

Indian Ferrous scrap stays stable ahead of

Indian Base metals: Lead, nickel rise on

Italian scrap prices decline

Russian ferrosilicon market quiet

Russian high carbon ferromanganese prices

et weakens in East Asia

Taiwanese scrap, rebar markets flatten on

sentiment, holidays

Chinese ferromolybdenum prices down

Chinese silicon metal prices weakly stable

Global pig iron production rises for Jan-Aug

Price 15.09.2017

Rs./Kg (Basic

Price Excl GST)

Price 22.09.2017

Rs./Kg (Basic

Price Excl GST)

31.0 31.0

26.5 27.5

30.0 31.0

415 398

151 149

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Foundry Innovation & New Technology Summit, New Delhi

Registration Form is attached

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4


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Foundry Excellence Workshops

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Foundry Excellence Workshops by IIF

5

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In the News..

Major Chemical Industry input costs have gone up affecting Foundry Industry Recently major Chemical Industry input costs have gone up due to various factors : - Recent Hurricanes Harvey, Irma and Maria in US, which caused extensive damage to Chemical Refineries and petrochemical plants has resulted into shut down of 60% of Petrochemical manufacturing activity. Besides this, extensive flooding has caused large scale disturbance in cargo movements thus affecting overall availability of basic building blocks for Petrochemical manufacturers. This has pushed up movement of all petrochemicals from South East Asia to China, US and European Union. This situation as per earlier estimate is likely to continue up to December'17. - Most of the major chemicals like MDI, Di Basic Ester, Phenol, Furfuryl Alcohol, HexamineTri-acetine are imported from China to India on regular basis. Chinese Govt. has ordered inspection of all major hazardous Chemical manufacturing units by a 20 member high level committee to ascertain extent of pollution caused by these units and suggesremedial measures to improve environmental air quality. This has resulted into shut down of many chemical manufacturing plants resulting into reduction in availability of these chemicals for exports to India and massive increase in the quoted prices of MDI, DBE, Tri-acetine, Phenol, etc. - Similarly due to shut down of Chemical Manufacturing units in Houston, US (A major chemical manufacturing hub) large scale import of these key petrochemicals from South Korea, China, Japan has resulted into limited cargo availability for Indian importers. This has also pushed up prices of these chemicals import to India and reduced offered quantities for Indian importers. Most of these chemicals are not manufactured in India and hence, India has been net importer of these basic inputs for foundry chemical manufacture. - For your reference, below are the Raw material prices between 1st Sept & 25th Sept.:

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Major Chemical Industry input costs have ndry Industry

Recently major Chemical Industry input costs have gone up due to various factors :

Recent Hurricanes Harvey, Irma and Maria in US, which caused extensive damage to Chemical Refineries and petrochemical plants

n of 60% of Petrochemical manufacturing activity. Besides this, extensive flooding has caused large scale disturbance in cargo movements thus affecting overall availability of basic building blocks for Petrochemical manufacturers. This has pushed

ment of all petrochemicals from South East Asia to China, US and European Union. This situation as per earlier estimate is likely to

Most of the major chemicals like MDI, Di Basic Ester, Phenol, Furfuryl Alcohol, Hexamine,

acetine are imported from China to India on regular basis. Chinese Govt. has ordered inspection of all major hazardous Chemical manufacturing units by a 20 member high level committee to ascertain extent of pollution caused by these units and suggest immediate remedial measures to improve environmental air quality. This has resulted into shut down of many chemical manufacturing plants resulting into reduction in availability of these chemicals for exports to India and massive increase in the

acetine, Phenol,

Similarly due to shut down of Chemical Manufacturing units in Houston, US (A major chemical manufacturing hub) large scale import of these key petrochemicals from South Korea,

to limited cargo availability for Indian importers. This has also pushed up prices of these chemicals import to India and reduced offered quantities for Indian importers. Most of these chemicals are not manufactured in India and hence, India has

importer of these basic inputs for

For your reference, below are the Raw material prices between 1st Sept & 25th Sept.:

Phenol: Rs. 82.00/kg to Rs.87.00/ Methanol: Rs.23.00/kg to Rs. 29.00/ N Butyl Acetate: 103.00/kg TEA: Rs. 127.50/kg to Rs. 134.00/kg PTSA 70%: Rs. 33.00/kg to Rs. 38.00/ MDI: USD 3050/MT to Furfuryl Alcohol: USD 2080/MT to USD 3500/MT DBE: USD 1050/ MT to USD 1450/MT Tri-Acetene: USD 930/MT to USD 1130/MT Some of the above raw materials, in particular MDI, have been rationed by our suppliers and they have been negotiating for the quantity. This is a temporary phase, which is expected to continue up to December'17 or January'18. The other raw materials what we use ifoundries, like Ferro Alloys and Additives also gone up considerably and are difficult to get.1. Ferro Silicon Prices --Ferro Silicon has started reducing in china , Indian Market offers above Rs.90/= per kg fromthat it was at Rs.68/= per kg , a fortnight ago. 2. Carbourisers particularly Calcined pet coke have risen from Rs.24/= per kg to Rs.37/= per kg at present and look to go up further. It’s a testing time for the Foundries to get price increase for their products fro Exporters seek quicker refund, no GST for merchant traders Exporters have sought faster refund of duties, exemption from tax payment for merchant exporters and simpler tax compliance for small exporters from the government. In a meeting with finance ministerJaitleyand chief economic advisorSubramanian, exporters and industry representatives flagged the issues faced by exporters due to GST

6

to Rs.87.00/kg

: Rs.23.00/kg to Rs. 29.00/kg

Rs. 85.00/kg to Rs.

50/kg to Rs. 134.00/kg

Rs. 33.00/kg to Rs. 38.00/kg

MT to USD 3500/MT

USD 2080/MT to USD

USD 1050/ MT to USD 1450/MT

USD 930/MT to USD 1130/MT

above raw materials, in particular MDI, have been rationed by our suppliers and they have been negotiating for the quantity. This is a temporary phase, which is expected to continue up to December'17 or January'18.

The other raw materials what we use in the foundries, like Ferro Alloys and Additives also gone up considerably and are difficult to get.

-- Even though the Price Ferro Silicon has started reducing in china , Indian Market offers above Rs.90/= per kg from

at Rs.68/= per kg , a fortnight ago.

2. Carbourisers particularly Calcined pet coke have risen from Rs.24/= per kg to Rs.37/= per kg at present and look to go up further.

It’s a testing time for the Foundries to get price increase for their products from the customers.

Exporters seek quicker refund, no GST for

have sought faster refund of duties, exemption from tax payment for merchant

and simpler tax compliance for small exporters from the government.

In a meeting with finance minister Arun and chief economic advisor Arvind

, exporters and industry representatives flagged the issues faced by

GST. FIEO pushed for a

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complete exemption from import charges on inputs used in exports. “Indian exporters are losing out to their competitors from such countries. Ab initio exemption from IGST may be provided against such Advance Authorisation/EPCG and EOU Scheme,” FIEO said in its presentation. Merchant exporters account for over 30% of country’s exports, who usually work on razor thin margins of 2-4%. The imposition of GST has made their costing haywire, particularly for products having higher GST rate, as they have to pay GST and seek refund after some time lag, FIEO said as it asked for timely refunds from the government. FIEO also asked for refund of embedded taxes on account of taxation on the products kept out of GST. “The availability of credit and cost of credit are the biggest challenges for the MSMEs, which have become more alarming as money is borrowed for payment of GST on exports,” FIEO president Ganesh Gupta said. Filing returns is more challenging for small exporters and industry was unanimous on the issue that such exporters be allowed to file returns every quarter though they will pay tax each month. “The minister heard our concerns and said certain issues are still settling downis too early to say what is the impact of GST as two months is a short period of time,” said an official who attended the meeting. Representatives from CII and PHD Chambers, GST Suvidha providers, Gems and Jewellery Export Promotion Council, Institute of Cost Accountants of India and Institute of Chartered Accountants of India were also present at the meeting. Officials from accounting software provider Tally Solutions and e-commerce major Amazon too attended the stakeholder consultation ahead of the GST Council meeting on October 6. India’s exports have remained sluggish even as global trade has picked up pace. Exports were up 8.57% between April and August as against a 26.63% rise in imports.

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complete exemption from import charges on inputs used in exports. “Indian exporters are losing out to their competitors from such countries. Ab initio exemption from IGST may e provided against such Advance

Authorisation/EPCG and EOU Scheme,” FIEO

Merchant exporters account for over 30% of country’s exports, who usually work on razor

4%. The imposition of GST haywire, particularly for

products having higher GST rate, as they have to pay GST and seek refund after some time lag, FIEO said as it asked for timely refunds

FIEO also asked for refund of embedded taxes he products kept out

“The availability of credit and cost of credit are the biggest challenges for the MSMEs, which have become more alarming as money is borrowed for payment of GST on exports,” FIEO president Ganesh Gupta said.

more challenging for small exporters and industry was unanimous on the issue that such exporters be allowed to file returns every quarter though they will pay tax

“The minister heard our concerns and said certain issues are still settling down. He said it is too early to say what is the impact of GST as two months is a short period of time,” said an official who attended the meeting.

Representatives from CII and PHD Chambers, GST Suvidha providers, Gems and Jewellery

Institute of Cost Accountants of India and Institute of Chartered Accountants of India were also present at the meeting. Officials from accounting software

commerce major Amazon too attended the stakeholder

d of the GST Council meeting

India’s exports have remained sluggish even as global trade has picked up pace. Exports were up 8.57% between April and August as against

Exports from SEZs up 15.4% in Aprilquarter to Rs 1.35 lakh cr Exports from special economic zones (SEZs) paced up 15.4 per cent to Rs 1.35 lakh crore during the first quarter this financial year, showed commerce ministry data.analysts stated that exports are growing from these zones, but observed that the government should do more to step up shipments. "In the GST (Goods and Services Tax) regime, units in SEZs have advantage compared to the units in domestic tariff area," Chairman of Export Promotion Council for EOUs and SEZs (EPCES) Rahul Gupta pointed outthe government should set up a proper refund mechanism for duties to be paid by SEZs when they buy products from outside these zones. Exports grew about 12 per cent to Rs 5.24 lakh crore in 2016-17 as against Rs 4.67in the previous financial year.attracted investments worth Rs 4.33 lakh crore up to June this year, the data showed. The highest number of SEZs are operational in states like Tamil Nadu, Karnataka, Telangana, and Maharashtra. Till September 7, the government has approved as many as 424 zones, of which 222 are operational. With an aim to promote exports from these zones, supplies from the domestic market to special economic zones are treated at par with exports under the Goo(GST) regime. EPCES has stated that SEZ developers and units receiving such supplies were required to pay duties first and then seek a refund, which is a cumbersome process. export-oriented units (EOUs) contribut33 per cent to the country's total shipments. India's Manufacturing Sector wilDespite Drop in GDP Growth Rate In a panel discussion conducted during the annual awards ceremony of the National Awards for Manufacturing Competitiveness, all panellists were positive about India's growth potential in manufacturing.

7

Exports from SEZs up 15.4% in April-June ter to Rs 1.35 lakh cr

Exports from special economic zones (SEZs) paced up 15.4 per cent to Rs 1.35 lakh crore during the first quarter this financial year, showed commerce ministry data. Industry analysts stated that exports are growing from

but observed that the government should do more to step up shipments.

"In the GST (Goods and Services Tax) regime, units in SEZs have advantage compared to the units in domestic tariff area," Chairman of Export Promotion Council for EOUs and SEZs

Rahul Gupta pointed out. He felt that the government should set up a proper refund mechanism for duties to be paid by SEZs when they buy products from outside these zones.

Exports grew about 12 per cent to Rs 5.24 lakh 17 as against Rs 4.67 lakh crore

in the previous financial year. These zones have attracted investments worth Rs 4.33 lakh crore up to June this year, the data showed.

The highest number of SEZs are operational in states like Tamil Nadu, Karnataka, Telangana,

Till September 7, the government has approved as many as 424 zones, of which 222 are operational.

With an aim to promote exports from these zones, supplies from the domestic market to special economic zones are treated at par with exports under the Goods and Services Tax

EPCES has stated that SEZ developers and units receiving such supplies were required to pay duties first and then seek a refund, which is a

Exports from SEZs and oriented units (EOUs) contributed about

33 per cent to the country's total shipments.

India's Manufacturing Sector will Grow Despite Drop in GDP Growth Rate

In a panel discussion conducted during the annual awards ceremony of the National Awards for Manufacturing Competitiveness, all panellists were positive about India's growth potential in manufacturing.

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Mr. Anand Louie, director, IRIM while addressing the gathering insisted that India's manufacturing sector would see growth. He also emphasized on organizations developing unique competitive strategies to excel in their relevant markets. Padmashri TN Manoharan, Chairmabank was the chief guest for the program. He mentioned that the government is making many long awaiting judicial and policy reforms. He was confidant that a similar trend of high FDI inflow will sustain through such positive changes. The Hyderabad unit of Schneider Electric Pvt. Ltd. bagged the top award for the evening and the Nagpur unit of Mahindra and Mahindra, Farm Equipment Sector was the runnerfollowed by Aditya Cement Works of Ultratech Cement Ltd. second runner-up respectively. IRIM evaluates a manufacturing plant based on their ten indicators of manufacturing competitiveness. IRIM deploys a proprietary method called the priority-adapt process to make these more relevant to organizations despite hailing from different markets and varied backgrounds. Maruti sales up 9 pc at 1,63,071 units in September The country's largest car maker Maruti SuzIndia (MSI) today reported 9.3 per cent increase in total sales at 1,63,071 units in September. The company had sold 1,49,143 units in the same month last year.domestic sales stood at 1,51,400 units, up 10.3 per cent from 1,37,321 units in September 2016, the company said in a statement. Sales of mini segment cars, including Alto and WagonR, witnessed a 13.3 per cent decline to 38,479 units during the month ufrom 44,395 units in September last year, MSI said. The auto major further said sales of the compact segment comprising Swift, Estilo, Dzire and Baleno jumped by 44.7 per cent to 72,804 units as against 50,324 units earlier. MSI said sales of mid-sized sedan Ciaz declined by 14.4 per cent to 5,603 units during the month. Sales of utility vehicles, including Gypsy,

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ie, director, IRIM while addressing the gathering insisted that India's manufacturing sector would see growth. He also emphasized on organizations developing unique competitive strategies to excel in their

Padmashri TN Manoharan, Chairman, Canada bank was the chief guest for the program. He mentioned that the government is making many long awaiting judicial and policy reforms. He was confidant that a similar trend of high FDI inflow will sustain through such positive

ad unit of Schneider Electric Pvt. Ltd. bagged the top award for the evening and the Nagpur unit of Mahindra and Mahindra, Farm Equipment Sector was the runner-up followed by Aditya Cement Works of Ultratech

up respectively.

evaluates a manufacturing plant based on their ten indicators of manufacturing competitiveness. IRIM deploys a proprietary

adapt process to make these more relevant to organizations despite hailing from different markets and

1,63,071 units in

r Maruti Suzuki (MSI) today reported 9.3 per cent

increase in total sales at 1,63,071 units in The company had sold 1,49,143

units in the same month last year. MSI's domestic sales stood at 1,51,400 units, up 10.3 per cent from 1,37,321 units in September 2016, the company said in a statement.

Sales of mini segment cars, including Alto and WagonR, witnessed a 13.3 per cent decline to 38,479 units during the month under review from 44,395 units in September last year, MSI

The auto major further said sales of the compact segment comprising Swift, Estilo, Dzire and Baleno jumped by 44.7 per cent to 72,804 units as against 50,324 units earlier.

sized sedan Ciaz declined by 14.4 per cent to 5,603 units during the

Sales of utility vehicles, including Gypsy,

Grand Vitara, Ertiga, S-Vitara Brezza, increased by 8 per cent to 19,900 units in September, from 18,423 same month of 2016. Sales of vans Eeco -- increased marginally to 13,735 units last month as against 13,618 units in the yearago period. Exports in September were down 1.3 per cent to 11,671 units as compared to 11,822 units in the same month last year, MSI said. VE Commercial Vehicles sales up 25.6% at 6,083 units in Sept VE Commercial Vehicles today reported sales of 6,083 units in September 2017, a rise of 25.6 per cent compared to the same month last year. VE Commercial Vehicles, a joint venture between Volvo Group and Eicher MotorsBSE 0.18 %, sold 4,843 units in September last year, a company statement said. It sold 5,934 units of Eicher brand last month as compared to 4,734 units in the yearperiod. The domestic sales stood at 5,084 units and exports stood at 850 units.recorded sales of 149 units last month as compared to 109 units in September 2016.

International News..

GF Linamar Gets $300M Order

GF Linamar, a venture and Linamar, has been awarded a large order from a U.S. manufacturer to produce lightweight magnesium components. The value of the contract amounts to a total of around $300 million over five years.

The order consists of cross car beapickup model. The components made of magnesium will be produced from 2020 onwards at the new plant in Mills River, North Carolina. This plant, which GF will operate with Linamar, was scheduled to open in October.

“The order is another importanthe expansion of GF’s presence in the North American market and consequently for implementing its 2020 strategy,” GF Linamar said in a news release.

8

-Cross and compact SUV Vitara Brezza, increased by 8 per cent to 19,900 units in September, from 18,423 units in the

Sales of vans -- Omni and increased marginally to 13,735 units

last month as against 13,618 units in the year-Exports in September were down

1.3 per cent to 11,671 units as compared to n the same month last year, MSI

VE Commercial Vehicles sales up 25.6% at 6,083 units in Sept

VE Commercial Vehicles today reported sales of 6,083 units in September 2017, a rise of 25.6 per cent compared to the same month last

l Vehicles, a joint venture between Volvo Group and Eicher MotorsBSE -0.18 %, sold 4,843 units in September last year, a company statement said.

It sold 5,934 units of Eicher brand last month as compared to 4,734 units in the year-ago

sales stood at 5,084 units and exports stood at 850 units. Volvo Trucks recorded sales of 149 units last month as compared to 109 units in September 2016.

nternational News..

GF Linamar Gets $300M Order

GF Linamar, a venture between GF Automotive and Linamar, has been awarded a large order from a U.S. manufacturer to produce lightweight magnesium components. The value of the contract amounts to a total of around $300 million over five years.

The order consists of cross car beams for a new pickup model. The components made of magnesium will be produced from 2020 onwards at the new plant in Mills River, North

This plant, which GF will operate with Linamar, was scheduled to open in October.

“The order is another important milestone in the expansion of GF’s presence in the North American market and consequently for implementing its 2020 strategy,” GF Linamar

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Government Schemes

Skill Development Initiative (SDI) Scheme Objective: To provide vocational training to school leavers, existing workers, ITI graduates, etc. to improve their employability by optimally utilizing the infrastructure available in Government, private institutions and the Industry. Existing skills of the persons can also be tested and certified under this scheme. Eligibility: Training is provided by registered Vocational Training Providers (VTPs) under the Govt., Private Sector and Industrial establishments. Demand driven training courses based on Modular Employable Skills decided in consultation with Industry. The Skill Development Initiative Scheme is 100 % centrally sponsored scheme.For more information please click on the following link http://dget.nic.in/content/innerpage/introduction

-sdis.php

Notifications/ Circulars

Ministry of Finance, Dept. of Revenue, CBEC Central Goods and Services Tax (CGST) Eighth Amendment Rules, 2017http://www.cbec.gov.in/resources//htdocs

cbec/gst/notfctn-36-central-tax-english.pdf

Ministry of Finance, Dept. of Revenue, CBEC Notification No. 90/2017 – Customs, 21Exchange Rates

http://www.cbec.gov.in/resources//htdocs

cbec/customs/cs-act/notifications/notfns

2017/cs-nt2017/csnt90-2017.pdf

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ment Initiative (SDI)

To provide vocational training to school leavers, existing workers, ITI graduates,

prove their employability by optimally utilizing the infrastructure available in Government, private institutions and the

Existing skills of the persons can also be tested and certified under this scheme.

Training is provided by registered Vocational Training Providers (VTPs) under the Govt., Private Sector and Industrial

Short term training courses based on Modular

Skills decided in consultation with

The Skill Development Initiative Scheme is 100 % centrally sponsored scheme.

please click on the

http://dget.nic.in/content/innerpage/introduction

Central Goods and Services Tax (CGST) Rules, 2017

http://www.cbec.gov.in/resources//htdocs-

english.pdf

21.09.2017

http://www.cbec.gov.in/resources//htdocs-

act/notifications/notfns-

Upcoming Indian Events

Upcoming International Events

Disclaimer: Although every care has been taken to ensure that

information provided is correct, The Institute of Indian

Foundrymen will not be responsible for any error or omission

and it does not necessarily represent official opinion of the

Institute of Indian Foundrymen

9

Upcoming Indian Events

Upcoming International Events

er: Although every care has been taken to ensure that

rect, The Institute of Indian

Foundrymen will not be responsible for any error or omission

and it does not necessarily represent official opinion of the

ALUCAST-2018

06 - 08 Dec., 2018

Delhi/ NCR, India

http://www.alucast2016http://www.alucast2016http://www.alucast2016http://www.alucast2016

.com/.com/.com/.com/

66th

Indian Foundry

Congress

10-12 January 2018

Gandhinagar, Gujarat

http://www.ifcindia.net/

14th

Asian Foundry

Congress

From: 7th

– 10th

Nov,

2017

Incheon, Korea http://www.afc14.org

THE 73RD WORLD

FOUNDRY CONGRESS

From.: 23rd

to 28th

September, 2018

Venue: Poland

URL:

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