Industry & Economy
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Electronics
CETMA welcomes customs duty cut, removal of SAD
Our Bureau
New Delhi
,
Jan. 8
THE Consumer Electronics & TV Manufacturers Association (CETMA) has welcomed the duty cuts announced by the Government on Thursday.
"This is a positive move which will attract investments," the CETMA official said.
The announcement to reduce the peak rate of customs duty by 5 per cent from 25 per cent to 20 per cent and abolishing the Special Additional Duty (SAD) of 4 per cent is what the industry has been looking for.
"This will bring down the product prices as it will reduce the production cost leading to market growth. How much will be the actual reduction is to be calculated," the official said.
According to Mr R. Zutshi, Director-sales, Samsung India Electronics, "The reduction in peak customs duty coupled with removal of SAD will benefit us in our high-end products which we are importing. Besides, this will also impact the prices of colour picture tubes (CPT) that are imported, for example the CPT for 29 inches."
The move to exempt the recorded video compact discs (VCDs) and digital video discs (DVDs) from excise duty, according to CETMA, "will reduce piracy. In fact, the industry has been seeking exemption on lines of recorded tapes and compact discs (CDs). The excise duty on such products was 16 per cent."
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