Budget 2023: Customs duty rejig to support local production, export competitiveness
To push domestic manufacturing and promote export competitiveness, the Budget has rejigged customs duties for some products, bringing it down for inputs such as electronic parts, certain chemicals and lab grown diamond seeds while raising it for some others such as electric kitchen chimney, automobiles and toys to correct inversion and protect local players.
Budget 2023: Custom-Duty Tweaks To Boost Electronics Manufacturing
The government has given fresh impetus to the domestic electronics manufacturing sector by lowering basic customs duties on imported components like open cells of television panels, while increasing it on few finished goods, including toys.
Union Budget 2023 Reactions from Key Tech Leaders
"This is a remarkable and well-planned budget. We welcome the move of government to reduce the custom duty on open cell to 2.5 percent. This will really help the domestic TV manufacturing industry to scale up and compete with the global brands.
सीमा शुल्क में कटौती से 3,000 रुपये तक सस्ता हो सकता है टीवी सेट
नयी दिल्ली, एक फरवरी (भाषा) स्थानीय स्तर पर विनिर्मित टीवी सेट के दाम 3,000 रुपये तक घट सकते हैं। ऐसा इसलिए है क्योंकि वित्त मंत्री निर्मला सीतारमण ने आयात किए जाने वाले कलपुर्जों पर बुनियादी सीमा शुल्क (बीसीडी) को पांच प्रतिशत से घटाकर आधा यानी 2.5 फीसदी कर दिया है।
Budget 2023: TV prices to become cheaper post reduction in open cell custom duty
To boost domestic manufacturing and enhance domestic value addition, Finance Minister Nirmala Sitharaman in Budget 2023 has proposed to reduce the basic customs duty on parts of open cells of TV panels to 2.5 per cent. This move by government of India to reduce customs duty on open cell to 2.5% from the existing 5% will bring down the television prices by up to Rs 3,000 for larger screens and between Rs 300-Rs 500 for smaller screens.
Dixon mulling local plant for open-cell assemblies for TVs, after Budget proposal
Dixon Technologies will be evaluating if it is feasible to set up a local plant to manufacture open-cell assemblies for TVs after the government announced a reduction in basic customs duty for import of components for open-cell assembly required for manufacturing of colour TVs.
Union budget 2023: टेक्नोलॉजी सेक्टर की मुराद हुई पूरी, पढ़िए बजट पर क्या कहते हैं टेक CEO
वित्त मंत्री निर्मला सीतारमण ने आज केंद्रीय बजट 2023-24 पेश कर दिया है। बजट के दौरान वित्त मंत्री ने बताया कि हेल्थकेयर के लिए एप बनाए जाएंगे। इसके अलावा हेल्थ सेक्टर में 5जी नेटवर्क का इस्तेमाल कैसा होगा, इस संबंध में खांचा तैयार किया जाएगा। उन्होंने कहा कि भारत में आर्टिफिशियल इंटेलिजेंस के लिए तीन उत्कृष्ट संस्थानों की स्थापना की जाएगी। 5G के विकास के लिए भी कई सेंटर ओपन किए जाएंगे। वित्त मंत्री निर्मला सीतारमण ने डाटा प्रोटेक्शन के लेकर कहा कि इसके लिए राष्ट्रीय डाटा नीति बनाई जाएगी। इसके अलावा पैन कार्ड का इस्तेमाल पहचान पत्र के तौर पर होगा।
Consumer electronics. Budget 2023: Basic custom duty cut on parts of open cells of TV panels to deepen domestic manufacturing
Avneet Singh Marwah, Director and CEO, Super Plastronics Pvt Ltd, a Kodak and Thomson brand licensee said, “This will help the domestic TV manufacturing industry to scale up and compete with the global brands. This will reduce the price of TV by 5 per cent and , we will pass this benefit to customers.”
Who Said What on Union Budget 2023
Mr. Avneet Singh Marwah, Director and CEO, Super Plastronics Pvt Ltd, a Kodak brand Licensee, said, “This is a remarkable and well-planned budget. We welcome the move of government to reduce the custom duty on open cell to 2.5 percent. This will really help the domestic TV manufacturing industry to scale up and compete with the global brands. This decision was awaited for a long time and this time, I am happy that the government has really considered our recommendations. Additionally, the idea of presumptive taxation for MSMEs and professions will really help is encouraging the sentiment of the market in the country. The revisions in the income tax slabs will really help the middle class and develop their living standards which is obviously going to benefit the market because we will witness growing sales of televisions and other products in the upcoming months. The focus of India government on the development of AI development centres will definitely revolutionise the industry and help in making it more tech-enabled.”
Budget 2023 Expectations From Startups, Entrepreneurs, Policy Makers & Citizens
Mr. Avneet Singh Marwah, CEO of SPPL (Super Plastronic Pvt. Ltd.) The general expectation that the industry has from the budget is how we can overall grow consumerism in India, in the past govt has taken some steps but I feel a lot has to be done. Seeing the global scenario of slow down it will be really important to budget how it’s not hit on the common man’s pocket., it will be great to see if there is some relief in the income tax slab structure.
Budget 2023: Is Govt Planning To Overhaul Income Tax Regime? Check Latest Update
One of the key demands from the Union Budget 2023 has been to change the existing personal income tax structure in order to provide relief to a large section of people, especially the salaried and middle class.
Budget 2023 Live Updates: Predictions for the amnesty scheme under customs
The general expectation that the industry has from the budget is how we can overall grow consumerism in India, in the past govt has taken some steps but I feel a lot has to be done. Seeing the global scenario of slow down it will be really important..