Budget 2023 Announcements: The government has reduced custom duty on electric goods like mobiles and TVs. With this decision of the government, the batteries used in mobiles, camera lenses and electric vehicles will become cheaper.
Budget 2023: The central government has reduced custom duty on electric goods like mobile and TV. With this decision of the government, mobiles, camera lenses and electric vehicles will become cheaper.
In the budget speech, Finance Minister Nirmala Sitharaman said that mobile phones will be made cheaper in the country. Concession will be given in the import duty on their components. On the other hand, if you are thinking of buying a TV then there is good news because it has been announced to make LED TV cheaper.
The import duty on lithium-ion batteries used in electric vehicles will be reduced, which means that now electric vehicles will also be cheaper in the country. Apart from this, the Finance Minister also announced to reduce the prices of cycles in the country, which means that cycles will be cheaper.
The government said the indirect tax proposals are aimed at promoting exports, boosting domestic manufacturing, increasing domestic value addition, encouraging green energy and mobility. Basic customs duty rates on goods other than textiles and agriculture are proposed to be reduced from 21 to 13.
