Tariff Cuts Under It Pact To Drive Down Computer Prices

Prices of computers and several related items are set to drop significantly once the Information Technology Agreement (ITA) comes into effect from tomorrow. Under the agreement, India is required to cut import duties on 207 tariff lines (items) from July 1.

However, the changes in tariffs will be made effective from March 1. This is standard practice, since the Union budget is presented to Parliament on the last day of February.

The duties on various items will be brought down to 10 levels