Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
Highlights
D. Forum
What's New
Sub-Menu

Share:      

        Home        
 
Article Section
Home Articles Budget CS Swati Dodhi Experts This
← Previous Next →

Costlier V/S Cheaper - Budget Updates

Submit New Article

Discuss this article

Costlier V/S Cheaper - Budget Updates
By: CS Swati Dodhi
February 2, 2021
All Articles by: CS Swati Dodhi       View Profile
  • Contents

Budget - 20-21

Things that got costlier are cigarettes, tobacco products, medical equipments and others due to hike in taxes while the items that will become cheaper include raw sugar, agro-animal based products, tuna bait, skimmed milk, select alcoholic beverages, among others.

Expensive

  1. Proposal to increase Excise duty on Cigarettes across various lengths and tobacco products.
  2. Customs duty on footwear hiked to 35% from 25 %.
  3. Customs duty on furniture goods hiked to 25%.
  4. Customs duty on Specified goods used in refrigerators and AC hiked to 12.5 percent vs 10 percent.
  5. Customs duty on auto, auto parts raised by up to 10 percent.
  6. Customs duty on import of food processing items raised to 100 percent.
  7. Health cess of 5 percent announced on import of medical equipment.
  8. Increase in customs duty on wall fans from 7.5 percent to 20 percent.
  9. Customs duty on tableware and kitchenware doubled to 20 percent.
  10. Import tax on crude palm oil raised to 44 percent.
  11. Customs duty on paper trays, binders, clips, staples, etc raised to 20 percent from 10 percent.
  12. Customs duty on certain toys raised to 60 percent from 20 percent.

Cheap

  1. Customs duty on import of newsprint, lightweight coated paper halved to 5 percent.
  2. Anti-dumping duty on purified terephthalic acid (PTA) eradicated.
  3. Exemption on customs duty for tuna bait, skimmed milk.
  4. Customs duty reduced on sports goods.
  5. Customs duty reduced on microphones, electric vehicles. 

 

By: CS Swati Dodhi - February 2, 2021

 

 

Discuss this article

 
← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||