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Import Duty Increased on 19 Items; ACs, Refrigerators to Become Expensive
October 16, 2018
The Union government has increased the import duty on 19 high-end items including jet fuel, diamonds, refrigerators, air conditioners (ACs), etc. to promote the inflow of foreign funds to India and stabilize the Indian currency. The new rates are effective from September 27 onwards.
As per the revised rates, the basic customs duty on ACs, washing machines (less than 10 kg category), and household refrigerators has been increased from 10% to 20%. The same goes for diamonds including non-industrial diamonds, lab-grown diamonds, and half-cut or broken diamonds, which has been increased from 5% to 7.5%.
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