STOCK MARKET BSE NSE

From AC to switches: Sitharaman hikes custom duty on electronic goods, pushes for Make in India

The government has also withdrawn customs duty exemptions on switches, sockets, plugs, connectors, relays etc.

Published: 05th July 2019 03:36 PM  |   Last Updated: 05th July 2019 03:36 PM   |  A+A-

AC

For representational purposes

By PTI

NEW DELHI: The government on Friday proposed increasing customs duty on CCTV camera, IP camera, digital video recorder and network video recorder to 20 per cent from 15 per cent, in order to provide the domestic industry a level playing field.

Besides, the government has proposed hiking basic customs duty (BCD) on optical fibres, optical fibre bundles and cables to 15 per cent from 10 per cent.

The proposals were announced in the Union Budget 2019-20 presented by Finance Minister Nirmala Sitharaman.

She said the government has also withdrawn customs duty exemptions on specific electronic goods such as switches, sockets, plugs, connectors, relays etc and would now attract applicable rates.

ALSO READ: Petrol, diesel set to be costlier; customs duty on gold increased

The government has also proposed increasing customs duty on the indoor and outdoor unit of split system air conditioner to 20 per cent from the present 10 per cent to promote domestic manufacturing.

"Make in India is a cherished goal. In order to provide domestic industry a level playing field, basic customs duty is being increased on items such as cashew kernels, PVC, vinyl flooring, tiles, metal fittings, mountings for furniture, auto parts, certain kinds of synthetic rubbers, marble slabs, optical fibre cable, CCTV camera, IP camera, digital and network video recorders etc," the finance minister said.

Charger and power adapter of CCTV camera/ IP camera and DVR / NVR would also now attract a customs duty of 15 per cent.

Earlier, these items were exempted from customs duty. Customs duty on imported loudspeaker has also been raised to 15 per cent from the present 10 per cent.

The government has also withdrawn customs duty exemption on capital goods used for manufacturing of specified electronic items such as cathode ray tubes, CD/CD-R/DVD/DVD-R, deflection components, CRT monitors/CTVs and plasma display panel.

The Consumer Electronics and Appliances Manufacturers Association (CEAMA) has been urging the government to raise customs duties on imported finished goods such as CCTV Camera and CCTV Recorders to promote local manufacturing and discourage imports.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp