19 items to have increased basic import duty: Finance Ministry
Shortpedia
Content Team
Image Credit: PXhere
In a move to reduce current account deficit or break the fall in the Indian currency, the government will increase the rates of basic custom duty, effective from midnight today, on 19 items including air conditioners, refrigerators, washing machines under 10kg, radial tyres and footwear, which were valued at Rs 86,000 crore in 2017-18. Some speculate that it could prove to be inflationary or have limited impact.
