The Hindu : Import duty cut on a range of items

Online edition of India's National Newspaper
Sunday, Jan 25, 2004

Business

Business

Import duty cut on a range of items

NEW DELHI, JAN. 24. The Union Government has announced import duty cuts on a host of items, according to a tax-related website. Accordingly, as many as 25 telecom and IT-related items will now attract only 10 per cent customs duty. These include capacitors (excluding paper capacitors and power capacitors), ferrite parts including memory cores and ferrite magnets, switches with contact rating less than 5 amperes at voltage not exceeding 250 Volts AC or DC, connectors, magnetic-heads (all types), deflection parts (EHT/LOT/FBT transformers, line driver transformers, deflection coil/yoke, linearity coil and width coil), ceramic/magnetic cartridges and stylus.

The other items are: air cored and ferrite cored transformers, microphones/microphone cartridges, RF/IF coils, inductance coils, peaking coils, tuning coils, antennas, relays of contract rating up to 7 amperes, EHT cables, level meters/level indicator/tuning indicators/peak level meters/battery meter/VC meters/tape counters, tone arms, microwave passive parts, fibre optics and other optoelectronic parts and devices namely, couplers, attenuators, connectors, splicers, multiplexers and demultiplexers, passive optical parts, namely, microlens and splitters, micropositioners, optical filters and gratings and phase plates, special purpose optical fibres, electron guns, liquid crystal displays, loudspeakers (cone type), glass frit, glass parts for cathode-ray tubes.

With these changes, the IT and telecom sector has almost got the complete package. Now, whatever is left is likely to be covered in the budget to be tabled by June-end, the site said.

For the manufacturing sector, customs duty on catalysts has been slashed to 15 per cent, on Bis-phenol A and Epichlorohydrin to 10 per cent, on non-alloy pig iron and seamless steel tubes SCM 415H for manufacture of piston rings to 10 per cent.

The customs duty has been lowered to 15 per cent on copper tubes, compressors used in refrigerating equipment or gas compressors used in airconditioning equipment, parts of airconditioners and refrigerators, thermostats for refrigerating and air-conditioning appliances and machinery.

For spring steel quality and free cutting steel imported for use in fuel injection parts, the duty has been lowered to 10 per cent, while duty on alloy steel of various grades and valve steel alloy steel bars (45CRSI 93 and 21-4N and SUH11,3) and cobalt mattes and other intermediate products of cobalt metallurgy has been slashed to 10 per cent when imported for manufacture of engine valves.

The duty has been reduced to 10 per cent on other alloy steel in ingots or other primary forms, semi-finished products of other alloy steel, bearing quality alloy steel wire rod conforming to SAE 52100, bright bar conforming to SAE52100, alloy steel round bars.

The other items that would attract 10 per cent import duty include refined copper cathodes, aluminium LM-24, aluminium sheets, aluminium foils, aluminium tubes and Silico-manganese steel and bars and rods of high speed steel imported for manufacture of fuel injection parts.

Import duty on refined copper wire-bars for manufacture of pumps has been lowered to 15 per cent; duty on EC/CG grade aluminium ingots-high purity and aluminium alloy LM-13, LM-28, LM-06 unwrought magnesium imported for manufacture of piston or piston assembly has also been lowered to 10 per cent.

UNI

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