For the best experience, open
https://m.8pmnews.com
on your mobile browser.
Advertisement

Ashwini Vaishnaw Lauds Centre's Decision Slashing Import Duty On Goods Required For Mobile Manufacturing

07:57 AM Feb 01, 2024 IST | NEWS Desk
ashwini vaishnaw lauds centre s decision slashing import duty on goods required for mobile manufacturing
Ashwini Vaishnaw Lauds Centre's Decision Slashing Import Duty On Goods Required For Mobile Manufacturing

New Delhi [India]: Union Minister for Communications, Electronics & Information Technology Ashwini Vaishnaw on Wednesday lauded the Government’s decision to reduce customs duty on goods used in the production of mobile phones from 15 to 10 per cent.

‘This rationalization of custom duties brings much-needed certainty and clarity to the industry and in customs processes. I thank PM and FM for this step towards strengthening the mobile phone manufacturing ecosystem,’ Vaishnaw said.

Union Minister Vaishnaw expressed gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for fortifying the mobile phone manufacturing ecosystem through this proactive measure.

The Union Government on Tuesday announced a reduction in customs duty on goods used in the production of mobile phones from 15 to 10 per cent.

As per an official statement, the Centre has revised customs duty rates, reducing charges on goods utilized in the manufacture of mobile phones.

Specifically, the duty has been slashed from 15 per cent to 10 percent for the residuary category and other applicable items.

The reduction in customs duties extends to various components crucial for mobile phone assembly, previously categorized under the ‘Others’ classification and charged at 15 per cent.

Items such as battery covers, front covers, middle covers, main lenses, back covers, GSM antennas, PU cases, sealing gaskets, SIM sockets, screws, and other mechanical items made of plastics and metal, will now incur a reduced duty of 10 per cent.

Furthermore, inputs or parts required for manufacturing goods explicitly listed in the notifications will be exempt from customs duty.

Advertisement
Tags :