 "GST rate cut impact: Govt mulls import duty hike on consumer durables")
After the peak goods and services tax (GST) rate on a number of consumer durables was cut, the government on Thursday said it would examine the possibility of hiking the import duty on those products.
“Domestic industry has said it needs protection. We are looking into all the proposals that have come in,” Central Board of Indirect Taxes and Customs (CBIC) Chairman S Ramesh said when asked if the government was considering hiking the import duty on consumer durables.
This assumes importance since the cut in the GST rates in the previous meeting of the GST Council also meant that the integrated GST on imported stuff will also come down, making imports cheaper.
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