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Import duty on 19 products hiked: Check out list of products that will become costlier
The enhanced duty rates which will make these imported goods expensive.
New Delhi: The government has raised import duties on 19 items with an aim to check the widening current account deficit resulting from high crude oil prices and the rupee slipping to a historic low.
The enhanced duty rates, which will make these imported goods expensive, has come into effect from Thursday.
The announcement follows a decision taken by the government on September 14 that the centre would impose curbs on import of non-essential items to contain the widening CAD and check the rupee fall. The CAD widened to 2.4 per cent of the GDP in the first quarter of 2018-19.
Here is the revised rate of customs duty on 19 items:
1. Air conditioners
Basic customs duty: 10 percent
Hiked to: 20 percent
2. Household Refrigerators
Basic customs duty: 10 percent
Hiked to: 20 percent
3. Washing machines less than 10 Kg
Basic customs duty: 10 percent
Hiked to: 20 percent
4. Compressor for air conditioners and refrigerators
Basic customs duty: 7.5 percent
Hiked to: 10 percent
5. Speakers
Basic customs duty: 10 percent
Hiked to: 15 percent
6. Footwears
Basic customs duty: 20 percent
Hiked to: 25 percent
7. Radial Car tyres
Basic customs duty: 10 percent
Hiked to: 20 percent
8. Non industrial diamond (other than rough diamonds), i.e., cut and polished diamond
Basic customs duty: 5 percent
Hiked to: 7.5 percent
9. Diamonds-semi processed, half cut or broken
Basic customs duty: 5 percent
Hiked to: 7.5 percent
10. Lab grown diamonds
Basic customs duty: 5 percent
Hiked to: 7.5 percent
11. Cut and polished Colored gemstone
Basic customs duty: 5 percent
Hiked to: 7.5 percent
12. Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal
Basic customs duty: 15 percent
Hiked to: 20 percent
13. Articles of Goldsmith or silversmith wares and parts thereof of precious metal or of metal clad with precious metal
Basic customs duty: 15 percent
Hiked to: 20 percent
14. Bath, shower bath, sink, wash basin, etc. of plastics
Basic customs duty: 10 percent
Hiked to: 15 percent
15. Articles of plastics for conveyance and packing such as boxes, case, containers, bottles, insulated ware etc
Basic customs duty: 10 percent
Hiked to: 15 percent
16. Tableware, kitchenware and other household items of plastics
Basic customs duty: 10 percent
Hiked to: 15 percent
17. Miscellaneous items of plastics such as office stationery, fitting for furniture’s, decorative sheets, statuettes, beads, bangles etc.
Basic customs duty: 10 percent
Hiked to: 15 percent
18. Trunks, Suitcase, Executive cases, Brief Cases, travel bags and other bags etc.
Basic customs duty: 10 percent
Hiked to: 15 percent
19. Aviation turbine fuel
Basic customs duty: 0 percent
Hiked to: 5 percent