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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (29144)	5/2/2005 11:28:57 AM
From: shades	Read Replies (1) of 116555

India to levy 7 percent on all imported computers www.chinaview.cn 2005-05-02 22:44:55 NEW DELHI, May 2 (Xinhuanet) -- Indian Finance Minister P. Chidambaram Monday clarified that a 7 percent levy proposed in the Finance Bill 2005-06 on imported computers will be applicable to all computer parts sourced from abroad, Indo-Asian News Service reported. "Due to some interpretation problems, imported computers like laptops are not being charged (the 7 percent levy). The cess will be uniformly applicable on all imported computers, whether it's a CPU or a mouse," he said while replying to the discussion on the bill in the Indian parliament. Chidambaram said the cess is aimed at protecting domestic computer manufacturers. Enditem Related Story

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