Unregistered copper market causing Rs 500-cr loss to govt

Losses are majorly due to non-payment of taxes by the market

The central government incurs a revenue loss of Rs 500 crore every year owing to non-payment of taxes by the unregistered secondary copper market, which accounts for 45 per cent of the copper scrap processed in the country, according to the International Copper Association India (ICAI). 

The association says the production of sub-material by the secondary industry has impacted the domestic market. The ICAI is a member of Copper Alliance and the Indian arm of the International Copper Association Limited (ICA).

Total copper and brass market in India is estimated to be around 400,000 tonnes, and copper scrap accounts for 60 per