List of items to be costlier/cheaper after budget!
Posted on: 05/Jul/2019 3:32:31 PM
The central finance minister, Nirmala Seetharaman, has made certain changes in the tax rates in the 1st budget presented after the recent formation of the government by BJP for the 2nd time.
Naturally, some items will become costlier and some others. Cheaper � here is an idea:
Items to be costlier
- Petrol and diesel - The finance minister has introduced a Cess tax of Re. 1 per litre.
- Gold and costly jewellery items will become costlier. The import Duty has been increased from 10% to 12.5%.
- Imported books will be costlier - 5% customs tax imposed on them!
- Withdrawal of more than Re. 1 Crore from the bank within a year will entail a 2% tax!
- Imported vehicle spare parts
- CCTV cameras and IP cameras
- PVC
- Vinyl flooring
- Metal fittings
- Imported split cashew nuts
Items to be cheaper
- Electric Vehicles - Action promised that GST has been reduced from 12% to 5%.
- Houses
- Imported safety devices/equipment
- Imported spare parts fixed in electric vehicles.
