Syringes, Printers to cost less

Presenting the General Budget 2011-2 the Union Finance Minister, Shri Pranab Mukherjee announced the major proposals with reduction of import duty, excise duty and customs duty. The proposals are as follows:

- Full exemption for stainless steel scrap from basic customs duty

- Reduction of import duties on specified raw material for the manufacture of syringes and needles to 5% basic and 4% CVD;

- Extending the concession available to parts, components and accessories for manufacture of mobile handsets till March 31, 2012 and to include few more items in its ambit;

- Expanding the raw material list for manufacture of specified electronic components that are fully exempt from basic customs duty;

- Reduction in excise duty (and hence CVD) on parts of ink-jet and laser –jet printers from 10% to 5%.

Source : Equity Bulls

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