New Delhi, Aug. 19: The government today banned the duty-free import of high-end flat screen plasma television, which will now attract a levy of 36.05 per cent.
The move is aimed at containing the current account deficit (CAD).
Seeking to end more than a decade-old concession, the revenue department issued a notification that amended rules to “disallow import of flat panel (LCD/LED/plasma) television as part of free baggage allowance” with effect from August 26.
The notification was tabled in Parliament today.
This implies that travellers bringing in LCD/LED/plasma TV as part of their baggage from August 26 will have to pay a customs duty of 35 per cent, plus an education cess of 3 per cent on it. The effective rate of import duty will be 36.05 per cent.
Last week, the Centre raised the duty on gold, platinum and silver to 10 per cent as CAD continued to swell on the back of surging gold imports.
Finance minister P. Chidambaram had said steps would be taken to compress the import of non-essential goods.
The falling rupee hasn’t been able to dampen the spirit of Indian travellers as 63 per cent of them are still on track with their holiday plans, according to a survey by Yatra.com.
Most Indians are still eager to travel, with about 63 per cent of the respondents positive towards pursuing their holiday plans, the survey revealed.
While 86 per cent of the respondents confirmed that the falling rupee would impact the average lifestyle, about 62 per cent were optimistic that the entry of international flight operators into the country would result in global and domestic travel becoming cheaper.
On whether they will wait for the rupee to rise and then go on holiday, 43 per cent said no, while 38 per cent said they would like to wait till the rupee stabilised.
The remaining 19 per cent said it did not matter and that they would go on a holiday anyway.
Southeast Asian countries emerged as the favourite destination, followed by Europe, the US and the UK.