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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%
