Television sets will get costlier as Government is going to fixing a threshold for levying import duties. This applies to those online brands those sell Television in India at a lower price by importing sets and displays from China.
For instance, a 32-inch smart LED TV will be taxed at a minimum $106 price, while for a 39-inch TV it will be $163 and $417 for a 65-inch curved smart LED TV. ET has a copy of the notification. This decision has come after an investigation by the Special Investigation and Intelligence Branch. It has come to their notice that some of them are undervaluing the imports.
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This move is going to greatly affect online brands, private brands and the regional brands that were importing products and then assembling in India or completely importing in India. This move is going to increase the price by more than 10%. This is an addition to the 20% duty on completely built televisions sets and 15% duty on finished LED panels announced in the February 1 budget.
The brands that will most likely be affected by the move are online exclusive brands like Noble Skiodo, CloudWalker, SVL, Daiwa, Nacson, Shibuyi, and Wybor. This will also reduce the gap between these companies and big brands like Samsung and LG. This will also put an end to the sole advantage these companies are having over top brands.
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