In a move to stabilise the falling rupee and check current account deficit, the government today (September 26) announced hiked customs duties on 19 items including jet fuel, air conditioners and refrigerators.
The new prices will come in effect from the midnight of September 26-27. The decision was taken to control imports of non-essential goods.
The finance ministry, in its press release, said that total import bill on account of shipment of these items into the country last fiscal (2017-18) was Rs 86,000 crore.
Customs duty on aviation turbine fuel was raised to 5 per cent. This may result in airfare rise.
Imported air conditioners, washing machines and refrigerators will also cost more with a 10 per cent hike in import duty.
Customs duty on audio speakers and foreign footwear were hiked by 5 per cent. On jewellery items, including cut polished gems, semi-processed and non-industrial diamond (other than rough diamonds), it was raised by 2.5 per cent.