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The govt. Budget 2014-15 reads that import duty on medical appliance has been increased from 10 to 20% while same has been reduced from 20to 10% on components and raw materials used to manufacture such appliances.how this govt. Will affect the equilibrium price and quantity of medial appliances in india?
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The govt. Budget 2014-15 reads that import duty on medical appliance h...
(1) import duty increased on Medical Appliances from 10 % to 20%--
After the introduction of GST for appliances, this hike in duties signifies the governments thrust on MAKE IN INDIA , which will lead to long term growth.
(2) Reduction of duties from 20% to. 10% on components and raw material used to manufacture --
Less duties will improve imports. import of raw materials is good for our industry. Under MAKE IN INDIA , thus raw material can be converted into finished products.
This will give boost to exports . And will help our economy to grow.
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The govt. Budget 2014-15 reads that import duty on medical appliance has been increased from 10 to 20% while same has been reduced from 20to 10% on components and raw materials used to manufacture such appliances.how this govt. Will affect the equilibrium price and quantity of medial appliances in india?
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