BackUnion Budget 2017: Here’s what’s costlier, what’s cheaper
Cigarettes, all tobacco products, mobile phones, LED lights have become costlier; online railway tickets, solar power products have become cheaper
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New Delhi: Finance minister Arun Jaitley’s Union Budget 2017 on Wednesday revised excise and customs duties on a number of products which will make them either cheaper or costly. While tobacco products and mobile phones and imported cashew nuts will become costly, the budget will reduce cost of solar panels and several other electronics items.
Union Budget 2017: Live Updates
Here is a list of what will become costly:
■ Pay more on cigarettes, bidis and tobacco products.
■ Excise duty on unmanufactured tobacco has been almost doubled to 8.3% from 4.2% earlier.
■ Excise duty on pan masala has been hiked to 9% from 6%.
■ Excise duty on cigar, cheroots has been changed to 12.5% or ₹ 4,006 per thousand.
Also read: Highlights of Union Budget 2017
■ Mobile phones and LED lights assembled in India will also become dearer with the finance minister increasing duties on imported printed circuit boards and components respectively.
■ Excise duty on chewing tobacco, including filter khaini and jarda scented tobacco has also been doubled to 12%t from 6% earlier.
■ Excise on paper-rolled handmade bidis has been increased to Rs28 per thousand from Rs21 per thousand
■ Excise on paper rolled biris has gone up from Rs21 per thousand to Rs78 per thousand.
■ Populated Printed Circuit Boards (PCBs) for use in the manufacturing of mobile phones, subject to actual user condition will also attract SAD of 2% from nil earlier.
■ Parts used for manufacturing of LED lights will attract basic customs duty 5% and CVD of 6% from nil earlier.
Also read: Budget 2017: Ban on large cash transactions to hit spend on luxury goods
■ Imported cashew nut (roasted, salted or roasted and salted) will also become dearer as basic customs duty on the item has been hiked to 45% from 30% earlier.
■ Imported silver medallion, silver coins, having silver content not below 99.9%, semi-manufactured form of silver and articles of silver will also be dearer as there items will now attract CVD of 12.5% from nil earlier.
Here is a list of what will become cheaper:
■ Railway travel with e-tickets booked through IRCTC will become cheaper as service charge on it has been withdrawn.
■ Reduced duties on solar tempered glass, fuel cell based power generating systems and wind operated energy generator will bring down their cost.
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