Zero duty on open cell TV panels may have an expiry date

KOLKATA: The Centre’s move to scrap the import duty on open cell panel, which claims 65-70% of the television production cost, will be valid for one year after which it would be taxed again unless the assembly begins locally, three senior industry executives said.
India imports finished open cell panels, which are used in making the LED panels, since there is no panel manufacturing facility in the country.
The finance ministry issued the duty-cut notification late Tuesday. The government wants to start local assembly of open cell panels by September 30, 2020, allowing the duty exemption thereafter only on the yet-to-be finished or basic open cell panels, while the finished open cell panels will be back to the 5% levy.