Govt scraps 5% import duty on open cell TV panel used in LED TVs
New Delhi, Sep 18: In a bid to boost domestic manufacturing, the government has removed 5 percent customs duty imposed on import of open-cell TV panel, which is used in the manufacturing of LED TVs. The television industry has welcomed the government's decision to scrap the customs duty on import of open cell TV panels, saying the move will boost domestic manufacturing.
TV makers said the move will help them reduce the manufacturing cost by up to 3 percent, however, consumer prices are expected to remain the same.
The announcement has come just ahead of the festive season sales and would positively impact the sales of LED TV panels.
In a late-night notification on Tuesday, the Ministry of Finance said "open cell, (15.6 inches and above), for use in the manufacture of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panel", would attract nil duty.
Besides, the government has also waived custom duty on import of Chip on Film, Printed Circuit Board Assembly (PCBA) and Cell (glass board/ substrate), which are used to manufacture open cell TV panels.
Earlier, on June 30, 2017, the government had imposed a customs duty of 5 percent on import of such panel.
Several TV makers including the Consumer Electronics and Appliances Manufacturers Association had opposed it and had requested the government to waive it.
The open-cell panel is an important part of TV manufacturing and covers more than half the cost of the unit.