In the Union Budget 2018 presented today in the Parliament by Finance Minister, in respect of some of the items customs and excise duty has been changed.
So, some of the items after Budget 2018 will cost more, here is a complete list of all such items.
Customs duty on mobile phones has been revised upwards from 15% to 20% while education cess has also been increased to 4% from 3%. The customs duty has been hiked to support Make in India initiative of the government.
At the same time, customs duty on some of the TV components has also been increased to 15%
1. TV sets
2. Mobile phones
3. Vegetable Oil
4. Two-wheeler and 4-wheeler
5. Silver and gold
6. Vegetable, fruit juices that include cranberry and orange
8. Food preparation excluding soya protein
9. Toiletries and perfumes
10. Oral dental hygiene preparations, denture fixative powders and pastes
11. Shaving preparations including after-shaves
12. Scent sprays including other toilet sprays
13. Deodarants, perfumes, bath preparations, depilatories
14. Radial tyres of buses and trucks
15. Suncreen, suntan and other manicure and pedicure kits
17. Silk fabric
18. Imitation jewellery, diamonds, coloured gemstones
19. Smart watches and other wearable devices
22. Video game consoles
23. Kids gear including tricycles, dolls, toys etc.
25. Wrist watches, clocks
26. Swimming and other sports related equipment and gears
27. Cigarette and lighters
On the other hand items or services that will get cheaper include
1. Healthcare services are set to get cheaper with the aid of Rs. 5 lakh cover on an annual basis per family to over 10 crore families from the poor and downtrodden section.
2. Raw Cashews
3. Fuel products including petrol, diesel which will cost lower by Rs. 2 per litre after excise duty cut
4. Solar tempered glass used in the manufacturing of solar panels or modules
5. Some of the capital goods or electronic items such as linear motion guides and ball screws.
6. Parts and other raw material used in devising cochlear implants