InvestorQ : How do you think, the government’s decision to levy 5% customs duty on the import of open cells for television will impact the industry?
Diya Chitale made post

How do you think, the government’s decision to levy 5% customs duty on the import of open cells for television will impact the industry?

Answer
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Siya Saran answered.
4 weeks ago


In order to increase local manufacturing and value addition of the local market, the government has decided to impose a 5% customs duty on importing open cells used in the televisions with effect from October 1, 2020.

However, as per government officials, the increase in prices due to this duty will not be more than Rs 250 per TV, which totally means that it won’t be a substantial hike.

The fact that the television industry cannot continue with these standard operating procedures for too long has made these governments provide relaxation for 1 year so that companies will start manufacturing complex products within India. This exemption shall be available till September 30, 2020, and after that custom, duty will be leviable.