No import / custom duty on electronics up to Rs. 50K

Quite awesome - the Government of India has decided to scrap the custom duty on electronics of value up to Rs. 50,000. The official notification is available here: https://dgft.gov.in/Exim/2000/NOT/NOT16/NotificationNo. 22(E).pdf . Here's a quick screenshot (click to open in full view)



In short, this means that the huge difference among the high-end smartphones in USA and other foreign countries vs. their pricing in India will no longer exist. Interesting, right?

I must make it clear that the notification clearly says that this applies when the product is obtained for personal use. Don't expect the prices of the goods in retail stores and online marketplaces to go down; because these imports are commercial.

Wow ! This is really good move as 2,000/- is revised to 50,000/- !