Union Budget: What items are now cheaper and what are more expensive
Union Finance Minister Nirmala Sitharaman unveiled the Union Budget for the upcoming fiscal year starting April 1st and here is a rundown of what will become more affordable and what will cost more.
* Basic customs duty on gold bar articles increased.
* Kitchen electric chimney customs duty now 15%, up from 7.5%.
* Basic customs duty on seeds for lab-grown diamond manufacturing reduced.
* Customs duty on shrimp feed reduced to promote exports.
* Concessional basic customs duty of 2.5% on copper scrap to continue.
* Capital gains deductions on residential house investments capped at ₹10 crores.
* Customs duty on certain inputs for mobile phone manufacturing reduced.
* Customs duty on parts of open cells of TV panels reduced to 2.5%.
* Relief on customs duty on import of certain parts and inputs, such as camera lenses.
* Concessional duty on lithium-ion cells for batteries extended for another year.
* Customs duty on cigarettes increased. FM Nirmala Sitharaman announces reduction of basic customs duty rates from 21 to 13 on non-textile and non-agricultural goods, with minor changes to duties, cesses, and surcharges on some products.
