In a significant move aimed at giving a leg up to the domestic electronics industry, Union Finance Minister Nirmala Sitharaman announced a major reduction in customs duty for several key electronic items in the Union Budget 2024-25 on Tuesday. The basic customs duty on mobile phones, mobile printed circuit board assembly, and mobile chargers has been reduced from 20% to …
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 …
With a view to promoting exports, boosting domestic manufacturing, and enhancing value addition, the Union Budget 2023-24 has proposed a number of changes to the Customs Duty regime which is likely to make mobile phones and TVs cheaper and a certain class of automobiles, including EVs, as well as toys and bicycles dearer. I propose to reduce the number of …
