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Ban on tax-free import of LCD Televisions – as there is 20% in TV production
Posted on: 20/Dec/2013 10:04:24 AM
In the quarter between September to October, 2013, there has been a 20% increase in the in the production of flat screen in LCD televisions. This is seen as an effect of the ban on duty-free import of plasma TVs.
The public preferred to buy the duty-free imported TV sets as the Indian product was costlier by 30% to 40%. This affected the sales of local manufacturers. As a result, a tax of 36.05% was levied on the imported flat screen plasma and LCD TVs. Subsequently, the increase of sales of 20% has been reported by the local TV manufacturers.
The market for electronic goods is decided by the individual spending habits, preference of foreign goods, easy loan facilities, and the changing lifestyle. It is expected that Indian Electronic market will reach US$ 125,000 million in 2-3 years.
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