Split AC, CCTV camera to get expensive as government hikes customs duty
5 years, 6 months ago

Split AC, CCTV camera to get expensive as government hikes customs duty

Live Mint  

New Delhi: The government on Friday proposed increasing customs duty on CCTV camera, IP camera, digital video recorder and network video recorder to 20% from 15%, in order to provide the domestic industry a level playing field. The government has also proposed increasing customs duty on the indoor and outdoor unit of split system air conditioner to 20% from the present 10% to promote domestic manufacturing. In order to provide domestic industry a level playing field, basic customs duty is being increased on items such as cashew kernels, PVC, vinyl flooring, tiles, metal fittings, mountings for furniture, auto parts, certain kinds of synthetic rubbers, marble slabs, optical fibre cable, CCTV camera, IP camera, digital and network video recorders etc," the finance minister said. The government has also withdrawn customs duty exemption on capital goods used for manufacturing of specified electronic items such as cathode ray tubes, CD/CD-R/DVD/DVD-R, deflection components, CRT monitors/CTVs and plasma display panel.

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History of this topic

India may tweak customs duties, regulations in budget to back local component manufacturing, ease trade
4 hours, 19 minutes ago

India may tweak customs duties, regulations in budget to back local component manufacturing, ease trade

Live Mint  

New Delhi: The government may rework and simplify customs duties and procedures in select sectors in the Union budget for FY26 to make it attractive for manufacturers of finished goods to also produce components or semi-finished goods, according to two people familiar with the matter. Calibrating customs tariffs to improve the viability of investments in finished products and the intermediate …

Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%
5 months, 3 weeks ago

Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%

Deccan Chronicle  

New Delhi: Finance Minister Nirmala Sitharaman announced a reduction of 15 per cent in the Basic Customs Duty on mobile phones while presenting the Union Budget for the fiscal year 2024-25 in Parliament on Tuesday. Along with mobile phones, the BCD on mobile Printed Circuit Board Assembly, and mobile chargers will be lowered to 15 per cent. In the interest …

Budget 2023: EVs, mobile phones - What all will become cheaper as govt reduces customs duty
1 year, 11 months ago

Budget 2023: EVs, mobile phones - What all will become cheaper as govt reduces customs duty

India TV News  

Budget 2023: Union Finance Minister Nirmala Sitharaman on Wednesday presented her 5th and last full budget of the Modi government in its present term. The government announced a reduction in customs duty on several products and services which will further reduce the prices of several electronic goods. As a result, there are minor changes in the basic customs duties, cesses, …

Budget 2021: Govt may increase customs duty on certain components, says report
3 years, 11 months ago

Budget 2021: Govt may increase customs duty on certain components, says report

Live Mint  

Union Finance Minister Nirmala Sitharaman will present Prime Minister Narendra Modi-led NDA government's eighth budget on February 1 amid the Covid-19 pandemic and under the unprecedented economic crisis triggered by it. This time, the Central Government may increase the customs duty on certain components, sources told ANI on Wednesday. According to the sources, to boost the Make in India initiative, …

Buying televisions in India can be costly from today. Here is why
4 years, 3 months ago

Buying televisions in India can be costly from today. Here is why

Live Mint  

New Delhi: Customs duty of 5 per cent has been imposed on import of a key component used in manufacturing of LED/LCD TVs from October 1, a government notification said on Wednesday. {{^adFree}} {{/adFree}} The government had last year exempted customs duty on open cells for a year till September 30 as the domestic industry had sought time to build …

Budget 2019-20: Customs duty on auto parts, camera hiked, some electric vehicle parts exempted
5 years, 6 months ago

Budget 2019-20: Customs duty on auto parts, camera hiked, some electric vehicle parts exempted

India TV News  

Finance Minister Nirmala Sitharaman on Friday proposed a hike in customs duty on certain automobile parts and digital camera while waiving the same on certain electric vehicle components. Presenting the first Budget of the Modi government in its second term, Sitharaman also announced customs duty exemption on components of specified electronic goods. She said basic customs duty on auto parts, …

Govt hikes import duty on select communication items to up to 20% to check widening CAD
6 years, 3 months ago

Govt hikes import duty on select communication items to up to 20% to check widening CAD

Firstpost  

The CAD widened to 2.4 percent of the GDP in the first quarter of 2018-19. New Delhi: The government Thursday hiked the import duty on certain communication items, including base stations, to up to 20 percent as part of efforts to check a widening current account deficit by curbing imports. Import duty on populated, loaded or stuffed printed circuit boards …

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