On the day Goods & Service Tax is being rolled out, Government of India took another decision which could have a large impact on the imported mobiles. A 10 percent Basic Customs Duty (BCD) has been imposed on imported Smartphones and parts of it like Charger, Headset, Battery, Keypad, USB Cable, Microphone & Receiver. However, BCD exemption on mobile parts such as camera module, printed circuit board assembly, touch panel, cover glass assembly and vibrator motor remains unchanged.
Finance Minister Arun Jaitley hinted Basic Customs Duty will be imposed on certain electronic goods as well. He, however, didn't mention the items on which the impact will be so far.
Centre constituted an Inter-Ministerial Committee for taking a decision on Customs Duty on Electronic Goods. Electronics & IT Ministry, Telecommunications & Commerce Ministries are made a part of this Government-appointed panel.
Basically, BCD on Mobiles & Electronics is an attempt to boost Make-in-India initiative and back local manufacturers. Already, Several Mobile Firms have begun their operations in India.
Finance Minister Arun Jaitley hinted Basic Customs Duty will be imposed on certain electronic goods as well. He, however, didn't mention the items on which the impact will be so far.
Centre constituted an Inter-Ministerial Committee for taking a decision on Customs Duty on Electronic Goods. Electronics & IT Ministry, Telecommunications & Commerce Ministries are made a part of this Government-appointed panel.
Basically, BCD on Mobiles & Electronics is an attempt to boost Make-in-India initiative and back local manufacturers. Already, Several Mobile Firms have begun their operations in India.