Business NewsNews

The government has halved customs duty on ‘open cell’ used in the manufacturing of LCD and LED television panels to 5 %, a move intended to boost domestic manufacturing. Open cell (15.6 and above) for use in the manufacture of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panels would attract 5 % customs duty, as per a notification by the Central Board of Excise and Customs. Experts said the move is an extension of domestic manufacturing push by the government after it announced in Budget the hiking of import duty on LCD/LED TV panels to 15 %. The customs duty of 5 % on open cells used in the manufacturing of LCD panels is lower than other items mentioned is Chapter 8529, this could ostensibly be to encourage manufacturing of such panels in India. In Union Budget on February 1, 2018, the government had doubled the customs duty on imported LCD and LED TV panels to 15 % from 7.5 %.

[Source: The Hindu BusinessLine]

High Courts

Meghalaya High Court: Disposing of a petition, the Division Bench comprising of Prafulla Pant C.J. and S.R. Sen, J. the Court refused to interfere with the decision of the Single Bench Judge of the Meghalaya High Court restraining the Board of Approval (BOA) from revoking its Letter of Permission approving the integrated cement manufacturing unit setup by Lafarge Umium Mining Pvt. Ltd in Meghalaya as a 100% export oriented unit exempted from paying import duty. The Court held that decision of the BOA to make Lafarge Ltd. liable to pay import duty for the long conveyor belt system that it proposes to setup in the Indian territory has been revised in contravention of the principles of natural justice without the petitioner being heard and that the petitioner had on the basis of principle of promissory estoppel made substantial investment for setting up of the conveyor facility .Therefore, the unilateral and arbitrary decision of the BOA withdrawing the exemption granted earlier from payment of import duty is quashed. Union of India v. M/s Lafarge Umium Mining Pvt. Ltd, WA No. 56 of 2010- , decided on June 17th, 2014

To read the full judgment, click here