If you are planning to buy a laptop, camera or aluminum product (Laptop and Camera can get costly soon) then it is very important for you to read this news. The Modi government is thinking of increasing the custom duty on 20 products soon.
new Delhi. If you are planning to buy a laptop, camera or aluminum product (Laptop and Camera can get costly soon) then it is very important for you to read this news. The fact is that the Modi government is soon thinking of increasing the custom duty on 20 products including laptops, cameras, textile products and aluminum products. In addition, import licensing is being imposed on some steel items, which will be imposed due to the move to ban imports from China.
Finance Ministry has been proposed to increase custom duty
At present, the proposal to increase the custom duty is in front of the Finance Ministry, which had already turned down this proposal, which came from the Ministry of Commerce and Industry. According to the news published in the ET, the Department of Venue is preparing to announce some tariffs. The official told ET that this is not just a duty to be imposed on China, but is an attempt to increase the customs duty completely. However, the idea behind this is to focus on those products which are imported by China in large quantities from China.
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A lot of imports are happening from countries with free trade agreements. In
recent weeks, the government has found that after relations deteriorated from China, there is a lot of imports from countries with free trade agreements from India, especially Asian like Vietnam and Thailand. Country.
The import of some steel products was also banned
, due to no action from the Revenue Department, the Commerce Department has decided to implement import licensing on things like tires and TVs. At the same time, restrictions have also been imposed on importing some steel products by the licensing agency Directorate General of Foreign Trade. Apart from import restrictions, the Modi government has also banned 59 Chinese apps. All this has happened after a bloody clash between India and China on the border, in which 20 soldiers of India were martyred.
