Pay more for ACs, refrigerators as govt hikes import duties

The government has raised import duties on 19 items to check the widening current account deficit resulting from high crude oil prices and rupee dipping to a historic low. “The total value of imports of these items in 2017-18 was Rs 86,000 crore,” a statement said. 

• Doubled to 20% on ACs, household refrigerators, washing machines (less than 10 kg)
• Basic customs duty raised to 10% on compressors, 15% on speakers, 25% on footwear
• Duty on radial car tyres raised to 15% from 10% at present
• Import duty hiked for cut and polished diamonds, semi-processed diamonds, lab grown diamonds, coloured gem stones from 5% to 7.5%
• Articles of jewellery, goldsmith and silver wares will attract duty of 20%, up from 15%
• Import of bath wares, packing material, tableware, kitchenware and office stationery items, decorative sheets, beads and bangles, trunk, suitcases, and travel bags will now attract basic customs duty of 15%, as against 10% earlier
• Import duty of 5% on aviation turbine fuel (ATF). It was nil earlier