Import duty on TV panels halved to 5 % in a move to boost domestic manufacturing

The government has halved customs duty on ‘open cell’ used in the manufacturing of LCD and LED television panels to 5 %, a move intended to boost domestic manufacturing. Open cell (15.6 and above) for use in the manufacture of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panels would attract 5 % customs duty, as per a notification by the Central Board of Excise and Customs. Experts said the move is an extension of domestic manufacturing push by the government after it announced in Budget the hiking of import duty on LCD/LED TV panels to 15 %. The customs duty of 5 % on open cells used in the manufacturing of LCD panels is lower than other items mentioned is Chapter 8529, this could ostensibly be to encourage manufacturing of such panels in India. In Union Budget on February 1, 2018, the government had doubled the customs duty on imported LCD and LED TV panels to 15 % from 7.5 %.

[Source: The Hindu BusinessLine]

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