Dated: 20.09.2019
India Scraps Import Duty on Open cell for Boosting LED/LCD Manufacturing
The Govt is giving a big time thrust on boosting the manufacturing of LED & LCD Monitors & TV’s. The effort of the Govt of India can be seen in the form of the latest Customs Tariff Notification No 30/2019 dtd. 17th September 2019 wherein it has made the necessary changes as given in the below screenshot.
The Effect of this Notification will be that Manufacturer’s can now Import these Open cell (15.6” and above) for use in the manufacture of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panels of ITC (HS) heading 8529 @ NIL Rate of Customs Duty.
The following goods for use in the manufacture of Open cell of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panels of ITC (HS) heading 8529 would not attract any Customs Duty at the time of Import in India. These are namely: –
(i) Chip on Film
(ii) Printed Circuit Board Assembly (PCBA)
(iii)Cell (glass board/substrate)
Download the Customs Notification Here
Customs Tariff Notification No 30-2019
Source: CBIC, Dept. of Revenue, Ministry of Finance, Govt. of India
In case you face any issues related to Indirect Tax-Customs, GST, Foreign Trade Policy (FTP), Arbitration matters and Central Licensing and related advisory matters in India then please feel free to get in touch with SJ EXIM Services. We offer Legal advice and litigation support in matters related to Indirect Tax-Customs, FTP, other Indirect Tax matters & Arbitration law, all sorts of Central licensing and related matters. Come and explore the new way of doing business with us!
Contact Person: Ms. Shubhra Jha
Mob: +91-9999005693
Web: www.sjexim.services
Email: operations@sjexim.services | shubhra@sjexim.services
Disclaimer:
- The views are of the Author based on his/her interpretation of the relevant information/documents, applicable law, and government policy and there is no assurance that a court or tribunal or regulatory body or other governmental authority may not interpret it differently.
- We are not responsible for updating or revising this article on account of any change in law or interpretation thereof or a change in events or circumstances informed or occurring after the date of this article unless specifically requested for it.
- Our advice should not be taken or used out of context or reproduced for any other purpose or transaction. Views expressed in this update are strictly personal, based on our understanding of the underlying law. We are not responsible for any injury, loss or cost arising to any person who refers to this update and acts or refrains from any act accordingly. We would suggest that detailed legal advice must be sought before relying on this update.
NOTE: All Inquiries/Pro Bono Consulting/Assignments are solicited via email only & it is a PAID Service only!
Leave a ReplyCancel reply