Govt raises import duties up to 20% on telecom equipment, components
BOOK A FREE CONSULTATION
Get help from an experienced legal adviser. Schedule your consultation at a time that works for you and it's absolutely FREE.
That's truly the next kind of import duty increase announced by the government in a little over a fortnight.
Import duty on populated, wealthy or loaded printed circuit boards of products besides mobile phones, base station and optical transport equipments has been raised to 10 percent commission.
Duty has been raised to 20% from 10% for base stations and for machines into the reception, transmission and regeneration or conversion of voice, images or additional information, like switching and routing apparatus Apart from modems, voice frequency telegraphy, digital loop carrier systems and multiplexers,
The CBIC said the Central government was satisfied that the import duty livable on goods falling under Chapter 85 of the First Schedule to the Customs Tariff Act, 1975, should be augmented and that conditions exist which render it necessary to take instant action.
Chapter 85 deals with electrical machines and equipment, sound recorders, television image recorders and their parts.
The government on September 26 increased the import duty of 19 items, including air conditioners, home refrigerators and washing machines (less than 10 lb ), to 20 percent.
Following a meeting chaired by Prime Minister Narendra Modi, the government had on September 14 announced it could impose curbs on import of non-essential items to incorporate the expanding CAD and scrutinize the rupee's fall.
Before Thursday, a Finance Ministry official had said more steps will be asked to evaluate CAD and anticipated the rupee would like.
"Rupee, Balance of Payments, CAD would be the main worries, we have got strategy set up to take care of scenario. We will do it in the time on these problems," one of the official said.
The obligation on radial car tyres has been raised from 10% to 15% while for cut and polished diamonds, semi-processed diamonds, lab grown diamonds, colored gem stones the import duty was improved from 5% to 7.5 percent.
For more details visit http://dgft.gov.in/