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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The US can no longer take India for granted, as Kerry’s visit shows

    Despite the feel good factor in Indo-US ties, not the least surprising given BJP’s long term support for free market and laissez-faire economy, the

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Why cleanliness is a vital human right

I have spent the past few months in India witnessing ...

Parvez Imam

Tourism agenda with a colonial undertone

Tourism is supposed to bring in foreign exchange and provide ...

Dharmendra Khandal

Let the tiger breathe in its natural home

The world has been observing July 29 as International Tiger ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture