Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2023-24, announced changes in duties and taxes, which will result in certain items becoming costlier and some cheaper.
Here's the full list of items:
COSTLIER
Cigarettes: Taxes hiked by 16 per cent
Gold: Basic customs duty on articles made from gold bars hiked
Silver
Platinum
Compunded rubber: Basic import duty on compounded rubber increased from 10 to 25 per cent
Electric chimney: Customs duty increased to 15 per cent from 7.5 per cent
..............................................
CHEAPER
Electric cars (made in India but using batteries from abroad)
Open cells of TV panels: Customs duty on parts cut to 2.5 per cent
Camera lenses: Govt proposes to reduce customs duty on the import of certain inputs for mobile phone manufacturing
Lithium ion batteries
Lab-grown diamonds: Govt to reduce basic customs duty on seeds used in manufacturing
Shrimp feed: Govt to reduce customs duty to promote exports
Denatured ethyl alcohol
Acid grade fluorspar
