Pay more for ACs, refrigerators as govt hikes import duties
NEW DELHI: The government has raised import duties on 19 items to check the widening current account deficit resulting from high crude oil prices and rupee dipping to a historic low.
Posted:
Sep 27, 2018 03:51 AM
Updated:
5 years ago
The government has raised import duties on 19 items to check the widening current account deficit resulting from high crude oil prices and rupee dipping to a historic low. “The total value of imports of these items in 2017-18 was Rs 86,000 crore,” a statement said.
- Doubled to 20% on ACs, household refrigerators, washing machines (less than 10 kg)
- Basic customs duty raised to 10% on compressors, 15% on speakers, 25% on footwear
- Duty on radial car tyres raised to 15% from 10% at present
- Import duty hiked for cut and polished diamonds, semi-processed diamonds, lab grown diamonds, coloured gem stones from 5% to 7.5%
- Articles of jewellery, goldsmith and silver wares will attract duty of 20%, up from 15%
- Import of bath wares, packing material, tableware, kitchenware and office stationery items, decorative sheets, beads and bangles, trunk, suitcases, and travel bags will now attract basic customs duty of 15%, as against 10% earlier
- Import duty of 5% on aviation turbine fuel (ATF). It was nil earlier