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A retrospective tax of Rs 20000 cr slapped on Indian mobile phone makers

The Indian cellphone manufacturers have been slapped a combined tax bill of Rs 20,000 crore. These include Micromax, Lava and Karbonn, among others.

ICEA has written to MeitY and the revenue department to take a relook at the interpretation of the Customs Dept of display panels, that have been clubbed with associated mechanics, and a 15 percent duty imposed. Since these panels are not manufactured indigenously, there was no import duty on them prior to September 2020. However, under the government’s phased manufacturing programme, an import duty of 10% has been levied on such panels from October 1, 2020.

CT Bureau

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