In order to push government’s Make in India initiative further, Finance Minister Arun Jaitley today hiked duties on a vast list of imported items, including mobile phones, automobiles, gold, diamond, fruit and vegetable juices, and perfumes.
The Finance Minister announces many sops to boost rural economy, however he had also announced that this year the government will not make any changes to the Income Tax slabs.
While, we have decoded the complete speech of the Finance Minister Arun Jaitley,
Here, below is the complete list of what has become cheaper and what is set to get expensive.
To buy luxury cars from abroad has become expensive.
Processed food, Electronics’ prices will go higher as the govt in the Budget 2018 has introduced 5 per cent custom duty.
Mobiles that have not manufactured outside India, TV sets and laptops will be costlier.
Spares parts of TV will also attract additional custom duty
* Mobile phones
* Vegetable, fruit juices, including orange and cranberry
* Miscellaneous food preparations other than soya protein
* Perfumes and toilet waters
* Sunscreen, suntan, manicure, pedicure preparations
* Preparations for oral dental hygiene, denture fixative
pastes and powders; dental floss
* Pre-shave, shaving or after-shave preparations,
* Deodorants, bath preparations, depilatories, perfumery
* Scent sprays and similar toilet sprays
* Truck and Bus radial tyres
* Silk Fabrics
* Imitation jewellery
* Smart watches/wearable devices
* LCD/ LED TV panels
* Wrist watches, pocket watches, clocks
* Tricycles, scooters, pedal cars, wheeled toys, dolls’
carriages, dolls, toys, puzzles of all kinds
* Video game consoles
* Articles and equipment for sports or outdoor games, swimming pools and paddling pools
* Cigarette and other lighters, candles
* Edible/vegetable oils such as olive oil, groundnut oil
Here’s a list of imported items that will become cheaper:
* Raw cashew nuts
* Solar tempered glass or solar tempered glass used for manufacture solar panels/modules
* Raw materials, parts or accessories used in making cochlear implants
* Select capital goods and electronics such as ball screws and linear motion guides.