Union Budget 2021: Finance Minister Niramala Sitharaman has announced that the government will be exempting 400 products that are now old. Among this, some exemption on parts of chargers and sub parts of mobile phones are being withdrawn.
“Domestic manufacturing has grown rapidly. We are now exporting items like mobile and chargers. For greater domestic value additions, we are withdrawing exemption on parts of chargers and sub parts of mobile phones. Some parts of mobile will also move from nil rate to a moderate 2.5 per cent,” Sitharaman said.
Exemptions on parts of mobile phone chargers and some part of mobiles to be removed as part of Phased Manufacturing Program (PMP) to augment PLI Schemes, said Nischal S Arora, Partner, Nangia & Co.