Union Budget: What got cheaper and what dearer?

Addiction to nicotine or tobacco is one of the most common addictions world wide, and also the leading cause of oral and lung cancers besides other diseases.
Taxes on cigarettes have been hiked by 16 per cent.

New Delhi: Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on the import of their components but smokers would have to pay more as the government has increased taxes.

Fully imported cars, including electric vehicles, and those assembled in India with imported parts will also become costlier with the finance minister increasing customs duty.

Following is a list of imported items that will become costlier:

  • Cigarettes: Taxes on cigarettes have been hiked by 16 per cent.
  • Kitchen chimney: A large number of common kitchen items like electric chimneys are set to get expensive. Customs duty on electric chimneys has doubled from 7.5 per cent to 15 per cent.
  • Gold bars and its accessories will become costlier as customs duty is set to be hiked.
  • Compounded rubber: Basic import duty on compound rubber increased to 25 per cent from 10 per cent.
  • Imported bicycles and toys
  • Fully imported cars and Electric Vehicles
  • Imitation jewellery
  • Silver dore
  • Naphtha  

However, certain goods will become cheaper as the government has slashed the customs duty and these are:

  • Domestically-manufactured TV sets: TV and lithium batteries will get cheaper as customs duty on open cells of TV panels has been cut by 2.5%.
  • Shrimp feed: Customs duty will be cut by the government.
  • Fish lipid oil used in manufacturing aquatic feed
  • Seeds for lab-grown diamonds
  • Capital goods

Click here to calculate your tax under the new regime.

(With PTI inputs)

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