Centre likely to hike import duty on consumer durables yet again

Centre wants to curb import of these items as CAD inches towards 3% of GDP in Q2FY19, from 2% in Q3FY18

Not content with raising the import duty on key components of television (TV) sets last year, the government is now mulling another round of duty hike — this time on raw materials used in home appliances such as air conditioners (ACs), refrigerators, washing machines, and microwave ovens.

It is learnt that the Ministry of Commerce is considering a proposal to increase Customs duty on compressors for ACs and refrigerators and pre-coated steel sheets and copper tubes used in making condensers, among others. This, despite the fact that the duty on compressors was raised from 7.5 per cent to 10 per cent