Union Finance Minister Nirmala Sitharaman proposes to reduce basic customs duty on mobile phones and chargers to 15%. The mobile phone and related products industry has seen a 3-fold increase in domestic production & almost 100-fold jump in exports. Govt proposed to reduce the Customs Duty on mobile phones, mobile PCBA, & mobile chargers to 15%. Finance Minister Nirmala Sitharaman said with a three-fold increase in domestic production and almost 100-fold jump in exports of mobile phones over the last six years, the Indian mobile phone industry has matured. "In the interest of consumers, I now propose to reduce the BCD (basic customs duty) on mobile phone, mobile PCBA and mobile charger to 15 per cent," Sitharaman said. Full list of products becoming cheaper and costlier: Products To become cheaper To become costlier Mobile Phones, mobile PCBA & Chargers Customs Duty reduced by 15% - Gold and Silver Customs Duty reduced by 6% - Equity investments held for less than one year - Tax increased to 20% from 15% Shares held for more than 12 months - Tax increased to 12.5% from 10% 3 more cancer treatment drugs Exempted from Customs duty Critical minerals Exempted from customs duty Specified telecom equipment - Basic customs duty increased to 15 per cent from 10 per cent Brood stocks, shrimps and fish feed Reduction in basic customs duty to 5 per cent - Ammonium nitrate - Customs duty raised to 10 per cent Non-biodegradable plastics - Customs duty raised to 25 per cent Solar panels, Solar cells & Electric vehicles Expanded the list of exempted capital goods used in manufacturing -
