The Finance Minister, Pranab Mukherjee, While presenting on the Indirect taxes as part of the Union Budget 2009-10, announced the changes in Custom Duty rates on various items. While the Set top boxes are set to costlier, the LCD TVs and Monitors along with mobile accessories are going to cost cheaper.

He recalled that in 2006 the set top boxes enjoyed a full exemption from basic customs duty it was to enable their free import for the smooth introduction of the Conditional Access System (CAS). And now the production capacity has come up in the country, so there will be a basic customs duty of 5 per cent on set top boxes. A move like this is bound to help the manufacturers of the country.

The Price of LCD Panels & Mobile accessories will get cheaper as he announced the reduction in basic customs duty on LCD panels from 10 % to 5 % to support indigenous production of LCD televisions and monitors.

Pranab Mukherjee said, “The electronic hardware industry has a strong potential for creating employment especially in the SME sector. I intend to reduce the basic customs duty on LCD panels from 10 per cent to five per cent to support indigenous production of LCD televisions”

Further, he proposed to reintroduce the same rate that was available to accessories, parts and components imported for the manufacture of mobile phones. So it means that the mobile accessories will get cheaper in price along with LCD Screens.