5% customs duty imposed on parts used in LCD, LED panels

The government recently categorised TVs as a restricted item for the purpose of imports and have now imposed the customs duty on the parts

The government has imposed a five per cent customs duty on specified products used in LCD and LED television panels to boost their domestic manufacturing.

These parts comprise chip on film, printed circuit board assembly and cell (glass board/substrate).

Abhishek Jain, partner at EY, said the government recently categorised TVs as a restricted item for imports and it has now imposed customs duty on the parts, clearly conveying its intention that the value addition in respect of  LED/LCD manufacturing should be centred in India.