Entire nation has their eyes set on the fifth and last full-fledged Union Budget and Interested Citizens can check List of Items Got Cheaper / Costlier from here!!! Our Experts of recruitmentresult.com has gathered some vital information in concern of Budget 2018.
Whereas increase in service tax rate to 14 per cent would construct a various things more expensive the finance minister safe the common man from price alerts on various usually used day-to-day items by maintaining the functions unaffected.
Union Budget: Price Hike Alert!!!!
Earlier, Union Finance Minister Arun Jaitley while presenting the budget in Parliament said that his proposals on product and customs will not have any special benefit or loss to the exchequer.
While presenting the budget, Jaitley said, “Through the Central Board of Excise and Customs, the Center will continue to achieve the goal of implementing the Goods and Services Tax (GST) without compromising the spirit of cooperative federalism.”
Expectations Across Market and Corporate Sectors
He said, “With the implementation of GST, the Central and State Governments can get more tax because this will increase the tax rate. I did not like to make more changes in the current structure of product and service tax as GST has already implemented. . “
Like every time, even after the budget some things became expensive and some things are cheaper. Let’s know what things the government did in this budget cheaper and what things are expensive.
Check Here: Date Wise Current Affairs
The following is a list of items that will turn costlier:
- Cigarettes, pan masala, cigar, cheroots, bidis, chewing tobacco
- LED lamp components
- Cashew nuts (roasted and salted)
- Aluminum ores and concentrates
- Polymer coated MS tapes used in manufacturing of optical fibres
- Silver coins and medallions
- Printed circuit board used in making mobile phones
Following is a list items that will turn cheaper:
- Booking railway tickets online
- RO membrane elements for household usage
- Solar tempered glass used in solar panels
- Fuel cell based power generating systems
- Wind operated energy generator
- Vegetable tanning extracts used in making leather products
- POS machines card and fingerprint readers
- Group insurance for Defence services
Check Also: Latest BUDGET Details
What Gets ‘Cheaper’?
Windmill, RO, POS, parcel, leather goods, solar panels, natural gas, nickel, biogas, nylon, buying railway tickets, attempts to give cheap houses, efforts to give relief to middle class in tax, land Compensation on acquisition will be tax-free. Exemption from customs duty for solar tampered glass used in manufacturing solar energy batteries and panels.
What Becomes ‘Costlier’?
Mobile Phones, Pan Masala, Cigarettes, LED Bulbs, Silver Goods, Tobacco, Hardware, Silver Foil, Steel Goods, Silver Jewelry, Smartphones The excise duty on pan masala has been increased from 6% to 9%, non-processed tobacco has been increased from 4.2 to almost doubling to 8.3%.
Excise duty on Pan Masala with tobacco (Gutkha) increased from 10% to 12%. The excise duty on cigarettes up to 65 millimeters has been increased from Rs 215 per thousand to Rs 311 per thousand. Aluminum is expensive, its duty on ore and concentrate increased from zero to 30%.
Check Updates Of: Indian Union Budget
Customs duty on printed circuit board, which was used in mobile phone manufacturing, increased from zero to 2%. The original customs duty and 6% reimbursement fee will be charged at the rate of five percent on the components used in the manufacture of LED bulb. The excise duty on cigar, Sulfi (Churat) was increased to 12.5% or per thousand 4006, whichever is higher. Earlier this rate was 12.5% and Rs 3,755 per thousand.
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