These are home appliances exempted from customs and excise duty. The government has reduced the customs duty on various household electrical appliances through the budget. This will make the prices of home appliances cheaper in the market in the coming days and consumers will be able to buy them easily.
Nepal Budget Home Appliances Exempted From Customs And Excise Duty
The government has announced abolishing excise duty on imported electrical appliances as well as waive customs duty to increase the domestic consumption of the increasing electricity production in the country.
As per the budget, 5 percent excise duty and 30 percent customs duty were earlier fixed on washing machines and dishwashers. Now, the government has reduced the customs duty on such items to 20 percent by repealing the excise duty through the budget.
Home Appliances Exempted From Customs And Excise Duty
Similarly, the excise duty on refrigerators used in every household has been reduced from 20 percent to 15 percent.
The government has reduced tariffs on rice cookers, electric kettles, jug water heaters, and insect traps from 15 percent to 10 percent. Customs rates for microwave ovens, hairdryers, toasters, electrothermic coffee and tea making machines, room heaters, immersion heaters, storage heating radiators, and water heaters have been reduced from 15 percent to 10 percent.
The customs duty on iron, hand dryer, a food grinder, and mixers has also been fixed at 10 percent while the customs duty on induction and infrared stoves has been reduced from 5 percent to 1 percent.
Regarding the public budget, Finance Secretary Shishir Kumar Dhungana told a press conference at the Ministry of Finance today that the customs duty rate on electrical appliances has been changed to increase the consumption of electricity internally. "We have tried to consume electricity produced in Nepal and aim to replace it with imports," he said.
He also clarified that new taxes have not been imposed.
Revenue Secretary Ram Sharan Pudasaini said that the exemption was given to revive the economy but not to the importers. "Our aim is to revive the economy. Tax rates have been adjusted accordingly, no new taxes have been imposed," he said.
Tax rates including customs duty and excise have been implemented since yesterday.
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