Budget 2023: The Central government proposed to reduce customs duty on the import of certain inputs for mobile phone manufacturing, FM Sitharaman said.
Budget 2023 Latest Update: Union Finance Minister Nirmala Sitharaman on Wednesday presented the Budget 2023 and announced major changes in certain duties and taxes, resulting in some items getting cheaper and some getting costlier.
In the budget presentation, FM Sitharaman said mobile phones will get cheaper as the Center has reduced the import duty.
“I propose to reduce the number of basic custom duty rates on goods other than textiles and agriculture, from 21 to 13. As a result, there are minor changes in the basic custom duties, cesses and surcharges on some items including toys, bicycles, automobiles,” FM Sitharaman.
“The Central government proposed to reduce customs duty on import of certain inputs for mobile phone manufacturing,” FM Sitharaman said.
She said the mobile phone output has gone up from 5.8 crore units in 2014-15 to 31 crore units last fiscal.
She said the customs duty on kitchen electric chimney increased to 15% from 7.5%. She said customs duty on parts of open cells of TV panels cut to 2.5%.
“I propose to provide relief on Customs Duty on import of certain parts and inputs like camera lens and continue the concessional duty on lithium-ion cells for batteries for another year.” FM Sitharaman added.
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