Mobile Phone Imports In India To Cost Less.

Import of mobile phones and computer printers in India will become cheaper, reports The Times of India. Finance minister Pranab Mukherjee has reduced the counter veiling duty (CVD) on import of mobile phones to 1 percent from 5 percent at present. Earlier 1 percent CVD was allowed on import of mobile phones only when cenvat credit was not claimed. Now, this condition has been removed. Mukherjee extended the concessional rate of 5 percent CVD and nil special additional duty (SAD) on import of parts of all printers by actual users. Mukherjee extended retail sale price based assessment with an abatement of 35 percent to many of the items to avoid valuation disputes. He exempted any waste, scrap or parings arising in course of manufacturing of these items. He also exempted seven specified parts of personal computers from SAD. This will lead to lowering of prices of computers in the country. He also restored excise duty (and CVD) exemption on silicon wafers imported for making solar cells/modules. Mukherjee also proposed that physical verification of their premises would not be necessary for new registrants.

Source : telecompaper.com