PC PRICES BACK TO PRE-BUDGET LEVEL
PC has fixed this error. In a move that would take the price
of personal computers (PCs) back to the pre-budget level,
the finance ministry today announced an additional duty of
7% on the import of a finished computer (CPU, monitor, keyboard
and mouse) and 6% on a stand-alone CPU.
The
move will end the inverted tariff structure caused by the
budgetary decision to exempt excise duty on PCs. The anomaly
stands corrected now.
The
introduction of the levy is in exercise of powers under Section
3 (3) of the Customs Tariff Act and is aimed at counter-balancing
the excise/CVD paid on input parts and peripherals by a local
PC manufacturer, Indian or MNC, which remains at 16%.
The
additional duty imposed on imports works out equivalent to
the net impact of the excise on inputs and peripherals.
