Indian Government Reduces Import Duty on LCD Panel
By Indrajit Ghosh – Director, India and South Asia, DisplaySearch
The Indian government today announced a restructuring of duties for LCD panel imports into India. The earlier duty of 10% on panels has been reduced to 5% effective immediately. This is significant because previously both panels and sets were subject to 10% import duty. This is expected to boost local manufacturing and give a boost to OEM manufacturing. Major Indian manufacturers like LG, Samsung and Videocon have already drawn up plans, and major set importers like Sony are drawing up new plans to combat this situation.
The taxation decisions were proposed by the Indian Finance Minister while he presented his annual budget to the Indian parliament in New Delhi. The plan also will bring the vast majority of Indian population under the government’s social welfare schemes reflecting a desire to bring the benefits of economic growth to the bottom of the pyramid.
i bought a lcd cost dirhams 1200. shpuld i pay duty for the lcd, if my all items are below 25000 INR also?