What Got Costlier and What Got Cheaper? Here are the Details From Nirmala Sitharaman’s Budget 2023
Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on import of their components but smokers would have to pay more as the government has increased taxes.
New Delhi, Feb 1: Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on 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. Budget 2023 Highlights: From Increase in Income Tax Exemption Limit To Launch of PMKVY 4.0, Here's What FM Nirmala Sitharaman Announced for Various Sectors.
Following is a list of imported items that will become costlier:
*Cigarettes
*Kitchen chimney
*Imported bicycles and toys
*Fully imported cars and Electric Vehicles
*Imitation jewellery
*Compounded rubber
* Silver dores
*Naphtha
However, certain goods will become cheaper as the government has slashed the customs duty and these are: What Got Expensive and Cheaper After Budget 2023-24? From Cigarettes, TV, Mobile, Gold and Silver, List of Commodities That Got Costlier and Cheaper.
* Domestically-manufactured TV sets
* Shrimp feed
* Fish lipid oil used in manufacturing aquatic feed
* Seeds for lab-grown diamonds
* Capital good
*Machinery for manufacturing lithium ion cell to be used in electric vehicles.