From Oct 1, 5% duty on import of key part for making TVs

With the end of Customs duty exemption on open cell — a key component in TV panel manufacturing — from October 1, TV manufacturers are expected to start making the product in India leading to a reduction in imports of television parts that are Rs 7,500 crore a year, Finance Ministry sources said. The open cell will attract 5 per cent from next month.

This exemption was given a year ago to the industry as it had sought time to build domestic capacity for open cell. However, TV makers have said that domestic manufacturing capacity isn’t adequate yet to curb all imports, and the prices of TVs is likely to rise with the 5 per cent customs duty.