Flying, ACs, Refrigerators To Cost More After Centre Hikes Import Duty | Read

The government on Wednesday announced hike in customs duty on select items to curb "non-essential imports" and narrow the current account deficit. The move will be applicable to 19 items, such as aviation turbine fuel (ATF) and consumer appliances such as television, refrigerator, air conditioner and speakers. The revision in customs duty tariffs - or taxes applicable to imports - will take effect from midnight, an official statement said. The move is in line with the government's aim to bring down non-essential imports to contain the current account deficit and capital outflows.