Look what will get cheaper and costlier as per Union Budget 2023

Debjit Mukherjee: Finance Minister Nirmala Sitharaman on Wednesday announced a rejig in custom duties on various products and commodities.


Here is a quick look at what will now get cheaper:


1. Duty cut on the import of certain inputs for mobile phone manufacturing


2. Customs duty on parts of open cells of TV panels has been cut to 2.5%


3. Customs duty on shrimp feed to be reduced to promote exports


4. Basic customs duty on seeds used in the manufacturing of lab-grown diamonds to be cut


Here is a quick look at what will now get costlier:


1. Taxes on cigarettes hiked by 16%, a hike after nearly 3 years


2. Basic customs duty hiked on articles made out of gold bars


3. Customs duty on kitchen electric chimney raised from 7.5% to 15%


4. Basic import duty on compounded rubber increased from 10% to 25%


5. Fully imported luxury cars and EVs to cost more as govt raises custo m duty from 60% to 70%