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ELECTRONICS
HARDWARE
FICCI's
recommendation to Shri Jaswant Singh, Minister
of Finance
on March 31, 2004
Issue of Import duties / Excise Duties
on recordable CDs and DVDs
- The recordable CD's and DVD's are included
in the list of products under the Singapore
declaration whereby the import duties
on these products will be reduced to 0%.
Currently, the import duties on these
products are 5% whereas excise duty on
the manufactured product is 16%. Interestingly
the excise duty on pre-recorded CDs, DVDs
(CD Rom, Audio CDs and Video CDs) has
been reduced to 0% in the recent interim
budget. Due to gross under invoicing that
is taking place, and high component of
countervailing duty and a relatively low
customs duty, imports are far more competitive
in the domestic market than products manufactured
by local producers.
- We would therefore request if the excise
duties could be reduced to 8% from the
current 16%. This would spur domestic
manufacturing and create economic prosperity
in a highly technology intensive sun-rise
industry.
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