Government bans duty free TV imports by air travelers with further decline of Rupee
The government banned duty free import of flat screen television by air travelers with a view to control down sliding rupee which declined below the 63 level against US dollar.
Air travelers, presently, can bring a flat screen television for personal use without paying any duty. The import of flat panel (LCD/LED/Plasma) television as part of free baggage allowance will be discontinued with effect from August 26, 2013. Thus in order to import TV buyers would need to pay the duty.
Apart from this, in order to contain the Current Account Deficit (CAD) and control the declining value of rupee the government has raised duty on gold, platinum and silver to 10%. The steps would be taken to compress import of non essential goods.
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Month: Current Affairs - August, 2013
Category: India Nation & States Current Affairs