Madras HC: Repeated Remand Orders U/S 37 A&C Act are Unworkable Without Reversing Merits  ||  Delhi High Court: Unproven Immoral Conduct of a Parent Cannot Influence Child Custody Decisions  ||  Delhi High Court: Counsel Cannot Treat Passovers or Adjournments as an Automatic Right  ||  Delhi HC: Landlord’s Rent Control Act Rights Cannot be Waived by Contract With Tenant  ||  Bom HC: Arbitrator Who Halts Proceedings over Unpaid Revised Fees Effectively Withdraws From Office  ||  SC Holds That if Some Offences Are Quashed On Compromise, The FIR Cannot Continue For Others  ||  SC Holds That Prior Opportunity to See Accused Can Render Test Identification Proceeding Unreliable  ||  Allahabad HC: Employees of Constituent Institutions are not Entitled to Central University Benefits  ||  Calcutta High Court: Juvenile Accused Eligible to Apply for Anticipatory Bail under Section 438 CrPC  ||  J&K & L HC: Departmental Proceedings Not Halted by Pending Criminal Case Without Showing Prejudice    

To Incentivise Domestic Value Addition And Make In India, Customs Duty Increased On Mobile Phones And TV Parts, Measure Will Help Promote Creation Of More Jobs, Customs Duty On Raw Cashew Halved- (Press Information Bureau) (01 Feb 2018)

MANU/PIBU/0151/2018

Customs

In the first General Budget 2018-19 after the roll-out of the Goods and Services Tax (GST), the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley, made a calibrated departure from the underlying policy in the last two decades, wherein the trend largely was to reduce the customs duty. In the General Budget 2018-19 presented in Parliament here today, Shri Jaitley acknowledged there is substantial potential for domestic value addition in certain sectors, like food processing, electronics, auto components, footwear and furniture. The Finance Minister thus proposed to reduce customs duty on raw cashew from 5% to 2.5% to help the cashew processing industry.

To further incentivise the domestic value addition and Make in India, the Finance Minister proposed to increase customs duty on mobile phones from 15% to 20%, on some of their parts and accessories to 15% and on certain parts of TVs to 15%. This measure will promote creation of more jobs in the country' Shri Jaitley added. In fact, this will make the domestic items cheaper than imported ones and will generate more demand which, in turn, will create more employment opportunities for the people at large.

Tags : DUTY   INCREASE   MOBILE PHONES   TV PARTS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved