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Rediff.com  » Business » 4% CVD on cellphones removed

4% CVD on cellphones removed

Source: PTI
May 02, 2005 19:38 IST
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Four per cent countervailing customs duty on components for mobile phone manufacturing exempted.

Specific excise duty on molasses, which was raised from Rs 500 a tonne to Rs 1000 a tonne, has been reduced to Rs 750 a tonne.

Finance Minister P Chidambaram, replying to the debate on the Finance Bill, also reduced the optional excise duty on nylon tyres to 8 per cent.

All parts of computer, including CPU and mouse, to be covered under seven per cent import duty.

CVD on nets for tuna fishing reduced from 16 per cent to 8 per cent.

Chidambaram also announced raising the income tax exemption limit for women from Rs 125,000 proposed in the Budget to Rs 135,000 and that of senior citizens from Rs 150,000 to Rs 185,000.
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