ACs, Refrigerators And 17 Other Items To Get Costlier From 27 Sept

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    In order to reduce the widening gap in the current account deficit (CAD) and reduce pressure on the weakening rupee, the government has decided to increase basic customs duty on 19 "non-essential items" to curb their imports. These rates will be effective from 27 September midnight, as per a statement from the ministry of finance.

    Sl. No. Item Present rate (%) Revised rate (%)
    1 Air conditioners 10 20
    2 Household Refrigerators 10 20
    3 Washing machines less than 10 Kg 10 20
    4 Compressor for air conditioners and refrigerators 7.5 10
    5 Speakers 10 15
    6 Footwears 20 25
    7 Radial Car tyres 10 15
    8 Non industrial diamond (other than rough diamonds), i.e., cut and polished diamond 5 7.5
    9 Diamonds-semi processed, half cut or broken 5 7.5
    10 Lab grown diamonds 5 7.5
    11 Cut and polished Colored gemstone 5 7.5
    12 Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal 15 20
    13 Articles of Goldsmith or silversmith wares and parts thereof of precious metal or of metal clad with precious metal 15 20
    14 Bath, shower bath, sink, wash basin, etc. of plastics 10 15
    15 Articles of plastics for conveyance and packing such as boxes, case, containers, bottles, insulated ware etc. 10 15
    16 Tableware, kitchenware and other household items of plastics 10 15
    17 Miscellaneous items of plastics such as office stationery, fitting for furniture's, decorative sheets, statuettes, beads, bangles etc. 10 15
    18 Trunks, Suitcase, Executive cases, Brief Cases, travel bags and other bags etc. 10 15
    19 Aviation turbine fuel 0 5
    ACs, Refrigerators And 17 Other Items To Get Costlier From 27 Sept
     

    The CAD, where the value of the goods and services a country imports exceeds the value of the goods and services it exports, widened to 2.4 percent of GDP (gross domestic product) for India in the April-June quarter.

    Read more about: customs duty cad
    Story first published: Wednesday, September 26, 2018, 22:07 [IST]
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