CVD of 4% fully exempted on components of Mobiles

Full exemption from CVD of 4% was available to accessories, parts and components imported for the manufacture of mobile phones till the 30th June, 2009. This exemption has been reintroduced for another year.

Presently, exporters of leather products, textile garments, footwear as well as sports goods are permitted to import raw materials, consumables etc. up to 3% of the f.o.b. value of their exports free of duty. The Minister has now added a few more items to these lists by providing for full exemption from basic customs duty for rough corals for encouraging value-addition and export.

To combat the phenomena of global warming and climate change, the basic customs duty on permanent magnets – a critical component for Wind Operated Electricity Generators – has been reduced from 7.5% to 5%.

Source : Equity Bulls

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