Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
»
1-min read

Govt Waives Import Duty on 35 Capital Goods to Boost Mobile Phone Manufacturing

In a notification dated September 28, the finance ministry exempted items such as printed circuit board (commonly known as motherboard) coating machine, PCB assembly loader, unloader from the customs duty.

PTI

Updated:September 29, 2018, 8:19 PM IST
facebookTwittergoogleskypewhatsapp
Govt Waives Import Duty on 35 Capital Goods to Boost Mobile Phone Manufacturing
File photo of Finance Minister Arun Jaitley. (Image: PTI)
New Delhi: The government has exempted 35 machine parts used for manufacturing mobile phone components from the basic customs duty to promote handset production in the country, according to an official notification.

In a notification dated September 28, the finance ministry exempted items such as printed circuit board (commonly known as motherboard) coating machine, PCB assembly loader, unloader from the customs duty.

These 35 capital goods are used for making mobile phone components such as lithium-ion battery, speaker and receiver of mobile phones, data cables, optical fibre etc.

Industry body Indian Cellular and Electronics Association while appreciating the notification to exempt 35 capital goods said that all the goods in the new list have HS Codes(codes required for imports) at eight-digit tariff level in them which will aid fast customs clearance.

"Basic duty on the 35 items which currently range from 7.5 to 10 per cent is now fully exempted. IGST will be applicable on the imports but this can be set off against GST," ICEA National President Pankaj Mohindroo said.

He said that essentially, the focus in the amendment is to cover manufacture of parts for mobile handsets, speaker and receiver, data cables, optical cables, PCBs and PCBAs. All these are under the notified phased manufacturing programme.

"The Association looks forward to the manufacturing of parts in the phased manufacturing programme," Mohindroo said.
| Edited by: Sanchari Chatterjee
Read full article
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
Reliance 1,339.80 1.05
Indiabulls Hsg 807.75 -0.83
HDFC 2,114.50 -0.38
SBI 337.55 -2.07
Tata Motors 176.80 -7.02
Company Price Change %Gain
Reliance 1,339.75 1.08
SBI 337.55 -2.05
HDFC Bank 2,403.80 -1.20
Indiabulls Hsg 808.25 -0.35
Tata Motors 176.60 -7.05
Top Gainers
Company Price Change %Gain
Dr Reddys Labs 2,667.00 3.00
Bharti Infratel 276.10 2.43
Britannia 2,848.70 1.70
Reliance 1,339.80 1.05
Titan Company 1,244.40 1.04
Company Price Change %Gain
Reliance 1,339.75 1.08
Bajaj Finance 3,432.65 0.76
HUL 1,783.50 0.62
Top Losers
Company Price Change %Gain
Tata Motors 176.80 -7.02
BPCL 374.45 -4.43
Zee Entertain 347.70 -4.08
IndusInd Bank 1,447.75 -3.14
Adani Ports 387.60 -3.12
Company Price Change %Gain
Tata Motors 176.60 -7.05
Maruti Suzuki 6,857.80 -3.25
IndusInd Bank 1,447.55 -3.02
Bharti Airtel 330.80 -2.66
M&M 638.80 -2.36

Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results