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Friday, December 15, 2017

Customs duty on colour TVs, phones, microwave ovens hiked Friday Dec 15,2017



To curb surging imports of electronic items such as mobile phones and TV sets, the Finance Ministry on Friday Dec 15,2017 increased the basic Customs duty on a host of products, which makes them more expensive. 

The move will also give a boost to the ‘Make in India’ programme. According to the notification, the Customs duty on mobile phones has been hiked to 15 per cent. The duty on TV sets and microwaves has been doubled to 20 per cent while the duty on video cameras has been hiked to 15 per cent from 10 per cent. 

The Customs duty on water heaters and hair dressing instruments has similarly been doubled to 20 per cent along with changes in duty on television cameras, lamp and light fittings and smart electricity meters. 

Additionally, the basic Customs duty on LCD, LED and OLED panels for manufacture of TV has been withdrawn; they will attract 7.5 per cent duty.

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