TaxTMI 
TaxTMI 
Costlier V/S Cheaper - Budget Updates
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....ostlier V/S Cheaper - Budget Updates<br>By: - CSSwati Rawat<br>Budget - Tax Proposals<br>Dated:- 2-2-2021<br><br>Budget - 20-21 Things that got costlier are cigarettes, tobacco products, medical equipments and others due to hike in taxes while the items that will become cheaper include raw sugar, agro-animal based products, tuna bait, skimmed milk, select alcoholic beverages, among others. Expen....
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....sive * Proposal to increase Excise duty on Cigarettes across various lengths and tobacco products. * Customs duty on footwear hiked to 35% from 25 %. * Customs duty on furniture goods hiked to 25%. * Customs duty on Specified goods used in refrigerators and AC hiked to 12.5 percent vs 10 percent. * Customs duty on auto, auto parts raised by up to 10 percent. * Customs duty on import of....
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.... food processing items raised to 100 percent. * Health cess of 5 percent announced on import of medical equipment. * Increase in customs duty on wall fans from 7.5 percent to 20 percent. * Customs duty on tableware and kitchenware doubled to 20 percent. * Import tax on crude palm oil raised to 44 percent. * Customs duty on paper trays, binders, clips, staples, etc raised to 20 percent fr....
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....om 10 percent. * Customs duty on certain toys raised to 60 percent from 20 percent. Cheap * Customs duty on import of newsprint, lightweight coated paper halved to 5 percent. * Anti-dumping duty on purified terephthalic acid (PTA) eradicated. * Exemption on customs duty for tuna bait, skimmed milk. * Customs duty reduced on sports goods. * Customs duty reduced on microphones, electric....
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