Customs duty on inputs or parts for use in manufacture of goods specifically listed in these notifications has been reduced to Zero

Jan 31, 2024 - 22:46
 0
Customs duty on inputs or parts for use in manufacture of goods specifically listed in these notifications has been reduced to Zero
Customs duty on inputs or parts for use in manufacture of goods specifically listed in these notifications has been reduced to Zero


New Delhi - Union Government has introduced changes in 3 categories through a notification in custom duties. Customs duty charged on residuary category/ others applicable to goods for use in manufacture of mobile phones has been reduced from 15% to 10%. Several items used in manufacture of mobile phones which were earlier considered
“Others” and charged at 15% will now be charged at 10%. Examples: Battery cover, Front cover, Middle cover, Main lens, Back cover, GSM antenna, PU case, Sealing gasket, SIM socket, Screw, Other mechanical items of plastics and metal.

Changes done:
● Changes introduced by these notifications fall in 3 categories:
● Customs duty charged on residuary category/ others applicable to
goods for use in manufacture of mobile phones has been reduced from
15% to 10%

● Several items used in manufacture of mobile phones which were earlier
considered “Others” and charged at 15% will now be charged at
10%. Examples:
▪ Battery cover
▪ Front cover
▪ Middle cover
▪ Main lens
▪ Back cover
▪ GSM antenna
▪ PU case
▪ Sealing gasket
▪ SIM socket
▪ Screw
▪ Other mechanical items of plastics and metal

Customs duty on inputs or parts for use in manufacture of goods specifically listed in these notifications has been reduced to NIL. The mobile industry has overwhelmingly welcomed the Government’s move to reduce custom duties for the industry. The amendment is an important policy change toward export-led growth, ensuring policy consistency, and
addressing competitiveness in manufacturing, which is a crucial victory for the mobile phone manufacturing industry in India.

Pankaj Mohindroo, Chairman, ICEA, said," This is a critical and welcome policy intervention by the Government towards making mobile manufacturing competitive in India. Building scale, riding on low input tariffs is key to transforming India into a global hub for Electronics Manufacturing and Exports.

The mobile phone industry would like to express its heartfelt appreciation to the Prime Minister’s Office, MoF and MeitY.”
“The adjustment of BCD to 10% on parts of mobile phones and mechanics and die-cut parts and 0% on inputs of mechanics represents the start of a paradigm shift in the policy orientation of the government towards export-led
growth and competitiveness.” Mr. Mohindroo remarked 

What's Your Reaction?

like

dislike

love

funny

angry

sad

wow