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, optical fibres, digital camera, cashew, certain synthetic rubber, and vinyl flooring have been hiked. The finance minister also said that 5 per cent customs duty has been imposed on imported books.

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History of this topic

Budget 2023: Imported cars, including EVs, become costlier
1 year, 11 months ago

Budget 2023: Imported cars, including EVs, become costlier

Hindustan Times  

Fully imported cars, including electric vehicles will cost more with Finance Minister Nirmala Sitharaman announcing hike in customs duty in the Union Budget 2023-24. Customs duty on electrically operated vehicles in CBU form, other than with cost, insurance and freight value of more than USD 40,000, has also been raised to 70 per cent. Customs duty on vehicles in completely …

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, …

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 …

Govt hikes import duties on 19 items; air conditioners, refrigerators, washing machines to get costlier from today
6 years, 3 months ago

Govt hikes import duties on 19 items; air conditioners, refrigerators, washing machines to get costlier from today

India TV News  

The government on Wednesday raised import duties on 19 items, including jet fuel, air conditioners and washing machines. The import duty on air conditioners, household refrigerators and washing machines doubled to 20 per cent. The basic customs duty on compressors, speakers and footwears raised to 10 per cent, 15 per cent and 25 per cent respectively. The duty on radial …

Customs duty hiked on ‘non-essential items’, flying, ACs, refrigerators to cost more
6 years, 3 months ago

Customs duty hiked on ‘non-essential items’, flying, ACs, refrigerators to cost more

Hindustan Times  

The government Wednesday hiked customs duties on as many as 19 items, including jet fuel, ACs and refrigerators, effective midnight as it aims to curb imports of non-essential goods. Total import bill on account of shipment of these items into the country last fiscal was Rs 86,000 crore, the Finance Ministry said in a statement. “The central government has taken …

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