Government of India reduces custom duty – decreasing LED TV prices !

Government of India has reduced the basic custom duty on open cell displays used in the manufacturing of LED television panels whereby leading television makers like Samsung, LG, Panasonic and Sony are now likely to roll back the price increase on television sets. The reduced duties on open cell displays of 15.6-inch and above are from 10% to 5%. The government had imposed 10% duty on open cell panels in the last Budget as compared to nil which was earlier. The industry was lobbying against the imposition of this duty and leading players like Samsung and Panasonic had earlier this month increased prices by up to 6% while others like Sony and LG had planned similar hikes for the new models which are rolled out in April.

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