Aug 20, 2013
Nitin Aggarwal No comments
Government of India banned import of flat screen television by the air travelers in a bid to stop declining the rupee value against the US dollar. Rupee declined very much and closes below 63 against the US dollar on 20 August 2013.
Custom department issued a notification no. 84/2013 dated 19 August 2013 about banning of importing flat screen television. In flat screen television, LCD, LED and Plasma TV come as the category.
This rule will be applicable with effect from 26 August. It means any air traveler who imports this category of TVs from abroad needs to pay import duty.
Custom department has allowed air travelers to import Rs. 35000 value of goods with them. But custom has excluded this item for import.
Government has also raised import duty on gold; platinum and silver by 10% for maintain the value of rupee. Government is taking the steps to compress the import of non-essential goods.