Government Might Not Put Import Duty On Mobile Display And Touch Panels: Report

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The government is all set to announce the budget on February 1 and almost all sectors have huge expectations. Now, a new report claims that the government might not put any import duty on assemblies' lines of display and touch panels.

Government Might Not Put Import Duty On Mobile Display And Touch Panel

 

"Import duties on some components under the phased manufacturing program (PMP) have not been recommended... the industry had asked for these changes," a government official was quoted by Economic Times.

The report reveals that earlier the government was planning to put 10 percent customs duty on assemblies. "Existing duties will continue, but new ones that were planned are not likely to be imposed," the official said.

Meanwhile, some industry experts suggested that the government should delay the duties on components. While, some believe that the government should impose duties and they have also written a letter to the ministry of electronics and information technology (MeitY) regarding the same.

In fact, the report reveals that one company, which has recently announced its plans to make a huge investment in the country, has confirmed that it will take a call if a government delays PMP duties. However, the source close to the development refuses to divulge the exact details about the company.

Furthermore, the report states that at present there is a 20 percent customs duty on imported mobile phones, 15 percent duty on battery packs, chargers, and USB cables, microphones. Lastly, there is a 10 percent duty on camera modules and circuit broad assemblies.

On the other hand, many reports are surfacing online which says that the government is likely to bring two percent incentives on mobile exports. "There is a proposal to give 2 percent additional export incentive on mobile phones till March 31. It will be effective from January 1, 2020, onward. The order is likely to be issued in this regard within a week," a source aware of the development was quoted by the news agency.

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