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Budget 2020 that spanned almost 2.5 hours is said to be pro-middle class with primarily relief on the personal tax front with a rejig in tax slab as well as tax rate. In her second budget, FM stressing on leaving more income with indivuals and at the same time increasing their purchasing power. There shall be a number of items which will get expensive or cheaper due to a cut or increase in tax. Here is the list:
Items that become expensive
Cigarette and tobacco due to increase in excise duty
Footwear and furniture as customs duty increased on their import
Medical equipment- health cess on import increased
Wall fans, ceiling fans or pedestal fans as customs duty increased to 20% fro 7.5%
Kitchenware or tableware made from porcelain or China ceramic, steel, copper, clay iron as customs duty doubled to 20%
Small appliances
Goods used in refrigerators and ACs
Combs, curling pins, hair curlers, curling grips, hair pins
Water filters, glass ware
Rubies, sapphire, emerald, rough coloured gemstones
Butter, ghee, peanut butter, edible oil
Whey, muslin, maize, preserved potato
Chewing gum, dietary soya fibre, isolated soya protein
shelled walnuts
hand sieves, hand riddles
padlocks
Water heaters and immersion heatersair dryers, hand drying apparatus and electric irons
Food grinders, ovens, cookers, cooking plates, boiling rings, grillers and roasters
Coffee and tea makers and toasters
Electro-thermic fluid heaters, devices for repelling insects and electric heating resistors
Furniture, lamps and lighting fittings
Toys, stationery item, artificial flowers, bells, gongs, statuettes, trophies
Items turned cheaper after Budget 2020
Newsprint, light weighted coated paper
Raw sugar, agro-animal based products, Tuna bait, skimmed milk, certain alcoholic beverages, soya fibre, soya protein
Some of the alcoholic beverages
PTA or on purified terephthalic acid as anti dumping duty abolished on it
Electric vehicles
microphone
sports goods
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