Custom Duty On Led Panels

The ministry of finance has scrapped the import duty on open cell led tv panel from 5 to zero in a late night notification issued on tuesday.

Custom duty on led panels.

Customs duty 35 an education cess of 3 effective total 36 05. It is indeed true that 2015 16 budget had reduced and exempted basic customs duty on specified parts of lcd led panels for tvs. This is the most critical component used in led tv manufacturing accounting for 65 70 of the total production cost. The government had on june 2017 imposed a customs duty of 5 percent on import of such panel.

Customs import duty of led panel in india customs import duty of led panel under hs code 94051090 94051090. The central board of indirect taxes and customs cbic said in a. This is yet another wrong information on some websites. 50 2017 customs dated the 30th june 2017.

But i read that the central government has reduced import duty on tv. Chandeliers and other electric ceiling or wall lighting fittings excluding those of a kind used for lighting public open spaces or thorough fares. Currently the zero customs duty is applicable for open cells 15 6 inches and above used in the manufacture of liquid crystal display lcd and light emitting diode led tv panels. Section 3 12 of the customs tariff act 1975 on being satisfied that it is necessary for the public interest so to do amended the notification no.

The ministry of finance empowered under section 25 1 of the customs act 1962.