Import tariffs hiked on more goods
The rupee fall and the current account deficit have increased by the central government. Reduced the imports and ready to control the deficit. Increased Import tariffs on more goods. In the past month, import tariffs on some electronic products have increased to a minimum of 20% on some communications goods. The decision was taken at a meeting held on Thursday, the Central Board of Excise and Customs said in a notification on Friday.
Optical transport equipment used in communication field, digital loop carrier systems and multiplexers, has increased the current 10 percent tariff on voice frequency telegraph by 20 percent. So far, 10 per cent import duty on telecom products and equipment without any tariff has been made. With this decision, smartwatches are going to be a little expensive.
During the fifteen days, the government raised import duty twice. The government had made a decision on September 26, doubling import tariffs on 19 electronic products, including ACs, fridges and washing machines. Earlier in December, the government had announced tariffs on 40 items in the budget, which was introduced in February this year.