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E-mail ID will not be published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

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

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

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture