The Central Government (Government of India) has decided to remove the 5 percent Custom Duty exemption on import of Open Cell from 30 September. It is believed that buying this decision can be expensive.
new Delhi. If preparing to buy color television, then buying before October 1 can be beneficial. Because a government decision is expected to increase prices. According to information received from sources on CNBCTV18, the Government of India has decided to remove the 5% Custom Duty exemption on import of Open Cell from 30 September. It is believed that buying TV can be expensive.
Let us tell you that open cell is the most important part for color television. At the same time, the production of television (TV) in India may be affected due to imposition of duty on import of open cell.
LED TV works like an open cell picture tube which is not produced in India. TV makers import open cells, which are not charged yet. But the government will impose a 5 per cent duty on import of open cells from October.
How expensive TV- companies claim The price of the TV can increase from 600 to 1500 rupees due to the decision of the government. But the government says that this decision will have an effect of only Rs 150-250. Manufacturing has increased in the country, hence the exemption in Duty and Import of TV Sets is banned.
Now what will happen- According to television manufacturers, the import of LED TVs from ASEAN countries to India may increase again due to the duty on open cells because India has a Free Trade Agreement (FTA) with ASEAN countries. The government has banned the import of color TV, but due to the FTA with ASEAN countries, TV can be imported from those countries.
Large investment is needed to start manufacturing of open cells and this work will take at least 3-4 years. A company like LG uses open cell to make TVs in India which can shift on import.