After increasing import duty on 19 items on September 27, the government today raised duty on several telecom equipment while imposing duties on printed circuit boards. The move is aimed at curbing import of certain items to rein in the current account deficit. The hike in duty is expected to make these items costlier, thus decreasing demand and lowering their imports while also helping local manufacturers of these items. The move will help India contain rupee depreciation by saving precious dollars. The increased duty is likely to yield about Rs 4,000 crore in revenue to the government. Below is a list of items that might get costlier: Steep hikes 1. Mobile phones: Telecom products including base stations, optical transport equipment, combination of one or more of packet optical transport product or switch, optical transport network products and IP radios will face customs duty of 20% instead of 10% now. The increase in duty and levy of duty on printed circuit boards, also called motherboards, are likely to make mobile phones costlier. 2. Air conditioners and refrigerators: The duty has been raised from 10 to 20 per cent on both the items. Since summers are over, the duty hike is not likely to lead to any substantial rise in the price of air conditioners. 4. Washing Machines: The duty has been raised from 10 to 20 per cent on washing machines less than 10 kg capacity. 50% duty hike will lead to price hike. Medium hikes 1. Flights: The government levied 5% import duty on aviation turbine fuel on September 27. This key input of the aviation industry will make flying costlier by increasing rate of tickets. However, the government cut excise duty on jet fuel to 11 per cent from 14 per cent a few days ago which will give some relief to the aviation industry. 2. Jewellery: There has been a duty hike of 5 percentage points (from 15 to 20 per cent) on articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal and articles of goldsmith or silversmith wares and parts thereof of precious metal or of metal clad with precious metal. 3. Sanitary ware: Duty on bath, shower bath, sink, wash basin, etc. made of plastics has been raised from 10 to 15 per cent. 4. Plastic material: Articles of plastics for conveyance and packing such as boxes, case, containers, bottles and insulated ware have been subjected to a duty hike from 10 to 15 per cent. Duty has been hiked by the same rate on tableware, kitchenware and other household items of plastics. Ditto for miscellaneous items of plastics such as office stationery, fitting for furniture’s, decorative sheets, statuettes, beads and bangles. 5. Travel gear: Duty has been hiked from 10 to 15 per cent on trunks, suitcases, executive cases, briefcases, travel bags, etc. Low hikes Duty has been hiked by 2.5 percentage points (from 5 to 7.5 per cent) on non-industrial, semi-processed and lab-grown diamonds as well as cut & polished coloured gemstones.
Your email address will not be published. Required fields are marked *
No products for "shirts arrow" found.
Latest football scores live. Includes soccer fixtures, table & results.
Five Eyes Intelligence Alliance Builds Coalition To Counter China
Cambodia's 'Rubbish Man' schools children – for trash
After Rocket Failure, Astronauts To Go Back Into Space: Russian Official
Currency exchange rates in INR on October 12, 2018
2016 © Tito's Resorts & Hospitalities Pvt Ltd