Custom Duty On Led Panels

Television sets will soon become expensive as the 5 percent customs duty on open cell panels has been re imposed from october 1. The central board of indirect taxes and customs cbic said in a. The government had on june 2017 imposed a customs duty of 5 percent on import of such panel.

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Government Scraps 5 Percent Import Duty On Open Cell Tv Panel Tv Panel Government Paneling

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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.

Custom duty on led panels.

Customs duty 35 an education cess of 3 effective total 36 05. 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. 50 2017 customs dated the 30th june 2017. This is yet another wrong information on some websites.

The government notified the levy of 5 customs duty on open cell for led lcd tv panels from october 1. 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. 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.

This is the most critical component used in led tv manufacturing accounting for 65 70 of the total production cost. The other goods for use in the manufacture of open cell of liquid crystal display lcd and light emitting diode led tv panels of heading 8529 would also attract nil duty. The ministry of finance empowered under section 25 1 of the customs act 1962. Customs import duty of led panel in india customs import duty of led panel under hs code 94051090 94051090.

It is indeed true that 2015 16 budget had reduced and exempted basic customs duty on specified parts of lcd led panels for tvs.

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