My friend saw this article in yesterday's economics times and called me up since he knew I was going to buy an LCD Monitor... I Googled the news and found the article here:
Digicams and LCD monitors to get cheaper
Here's a Gist:
A change in classification of gadgets and computer peripherals by the government will make digital cameras and LCD monitors cheaper by at least 10%. The finance ministry this week issued a circular, relenting to the long-pending demand of the IT industry, to classify LCD monitors as computer monitors (rather than TVs) and digital cameras as ‘still image cameras’ rather than video camcorders. It will bring down the Customs duty on these products from 10% to zero.
Companies have welcomed the move.
Samsung India may pass the benefits to consumers. “We are studying the impact and will be looking at passing benefits to end customers for these large-format display monitors,†Samsung India deputy managing director R Zutshi said.
LCD monitors were earlier classified as LCD TVs, which attracted a 10% Customs duty in contrast to LCD monitors which attract zero Customs duty.
Digital still image cameras with short-duration video recording facility were earlier being classified as ‘camcorders’. Camcorders attract 10% Customs duty in comparison to digital still image video camera which attracts zero Customs.
A 16% excise/CVD (countervailing duty), however, remains common across both products.
Companies, which were deducting Customs duty under a bond, will not see price cut. Those selling without a bond, may surely pass on the benefits.
Truly a "Diwali Bonanza" for all of us :clap:
(hopefully the prices reduce before Diwali :bleh: )
What do you guyz have to say? Should we wait for the price reduction? When will it happen? How much difference will be there in the prices?
Plz comment... hyeah:
Digicams and LCD monitors to get cheaper
Here's a Gist:
A change in classification of gadgets and computer peripherals by the government will make digital cameras and LCD monitors cheaper by at least 10%. The finance ministry this week issued a circular, relenting to the long-pending demand of the IT industry, to classify LCD monitors as computer monitors (rather than TVs) and digital cameras as ‘still image cameras’ rather than video camcorders. It will bring down the Customs duty on these products from 10% to zero.
Companies have welcomed the move.
Samsung India may pass the benefits to consumers. “We are studying the impact and will be looking at passing benefits to end customers for these large-format display monitors,†Samsung India deputy managing director R Zutshi said.
LCD monitors were earlier classified as LCD TVs, which attracted a 10% Customs duty in contrast to LCD monitors which attract zero Customs duty.
Digital still image cameras with short-duration video recording facility were earlier being classified as ‘camcorders’. Camcorders attract 10% Customs duty in comparison to digital still image video camera which attracts zero Customs.
A 16% excise/CVD (countervailing duty), however, remains common across both products.
Companies, which were deducting Customs duty under a bond, will not see price cut. Those selling without a bond, may surely pass on the benefits.
Truly a "Diwali Bonanza" for all of us :clap:
(hopefully the prices reduce before Diwali :bleh: )
What do you guyz have to say? Should we wait for the price reduction? When will it happen? How much difference will be there in the prices?
Plz comment... hyeah: