Cellphones to cost more

29 Feb

Cellphones are expected to become dearer as the Union Finance Minister has proposed an additional excise duty of one percent. Prior to the Union Budget, which was delivered today, cellphones attracted four percent import duty. “An excise duty of 1 per cent called NCCD is now imposed on polyester filament yarn, which is the only yarn suffering this excise duty. I propose to remove that duty and shift the levy to cellular mobile phones,” said P Chidambram, the Union Finance Minister while addressing both the houses of the Parliament.

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