Govt targets additional Rs 26,763 cr via customs duty

Tags: News
Government has set a target of additional Rs 26,763 crore from customs duty in the current fiscal to Rs 2,01,819 crore.

In the last fiscal, the government has collected Rs 1,75,056 (RE) crore as customs duty, said Finance Minister Arun Jaitley in the Budgetary proposals presented to Lok Sabha today.

Jaitley proposed basic customs duty at 10 percent on specified telecommunication products that are outside the purview of the Information Technology Agreement.

Considering the need to conserve natural resources, Finance Minister also increased export duty on bauxite from 10 percent to 20 percent.

He further proposed increasing the basic customs duty on imported flat-rolled products of stainless steel from 5 percent to 7.5 percent.

The Finance Minister, however, reduced basic custom duty on LCD and LED screens below 19 inch to zero from 10 per cent.

He also exempted custom duty on inputs used for manufacture of personal computers from the current 4 per cent.

Customs duty on coal was rationalised to 2.5 per cent from 2 per cent.

EDITORIAL OF THE DAY

  • India’s commercial links with Britain since Company Raj will still prosper

    There is little point in shedding tears over Britain’s exit from the European Union (EU).

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Regimenting art runs counter to a creative society

For poetry makes nothing happen,” so said American poet WH ...

Zehra Naqvi

Of traitors & cadavers

There’s nothing like a book that arrests you from the ...

Dharmendra Khandal

Why drone technology doesn't work

Poaching and anti-forestry activities are a problem for forest departments ...