In her first budget, which was the also the first one of the Narendra Modi 2.0 government, finance minister Nirmala Sitharaman announced a change in custom duty of several products which will lead to a change in their market prices.
The government on Friday proposed increasing customs duty on CCTV camera, IP camera, digital video recorder and network video recorder to 20 per cent from 15 per cent, in order to provide the domestic industry a level playing field.
Besides, the government has proposed hiking basic customs duty (BCD) on optical fibres, optical fibre bundles and cables to 15 per cent from 10 per cent.
Sitharaman said the government has also withdrawn customs duty exemptions on specific electronic goods such as switches, sockets, plugs, connectors, relays etc and would now attract applicable rates.
"Make in India is a cherished goal. In order to provide domestic industry a level playing field, basic customs duty is being increased on items such as cashew kernels, PVC, vinyl flooring, tiles, metal fittings, mountings for furniture, auto parts, certain kinds of synthetic rubbers, marble slabs, optical fibre cable, CCTV camera, IP camera, digital and network video recorders etc," the finance minister said.
Here is the complete list of items that got cheaper and dearer:
CHEAPER
-Naphtha
-Silicon Tetra Chloride
-Germanium Tetra Chloride
-Refrigerated Helium Liquid
-Silica Rods
-Silica Tubes
-Textile
-Wool fibre, Wool Tops
-Steel
-Hot rolled coils
-Cold-rolled MgO coated and annealed steel
-Hot rolled annealed and pickled coils
-Amorphous alloy ribbon
-Cobalt mattes
-Populated PCBA
-Camera module of cellular mobile phones
-Charger/Adapter of cellular mobile phone
-Lithium Ion Cell
-Display Module
-Set Top Box
-Compact Camera Module
DEARER
Due to Custom Duty:
-Cashew
-Chemicals
-Plastics
-Rubber
-Floor cover of plastics
-Wall or ceiling coverings of plastics
-Newsprint
-Uncoated paper used for printing of newspapers
-Lightweight coated paper used for magazines
-Printed books (including covers for printed books)
-Printed manuals
-Water blocking tapes for manufacture of optical fiber cables
-Ceramic products
-Ceramic roofing tiles
-Steel and base metal products
-Stainless steel products
-Base metal fittings, mountings and similar articles suitable for furniture, doors, staircases, windows, blinds, hinge for auto mobiles
-Indoor and outdoor unit of split system air conditioner
-Charger/ power adapter of CCTV camera/ IP camera and DVR / NVR
-Loudspeaker
-Digital Video Recorder (DVR) and Network Video Recorder (NVR)
-CCTV camera and IP camera
-Optical Fibres
-Glass mirrors
-Rearview mirrors
-Catalytic Converter
-Lighting or visual signaling equipment of a kind used in bicycles or motor vehicles
-Other visual or sound signalling equipment for bicycle and motor vehicle
-Windscreen wipers, defrosters and demisters,
-Sealed beam lamp units
-Other lamps for automobiles.
-Marble slabs
-Petroleum crude
-Silver (including silver plated with gold or platinum) unwrought or in semimanufactured forms, or in powder form
-Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form
-Gold dore bar, having gold content not exceeding 95%
-Platinum, unwrought or in semi-manufactured forms, or in powder form
-Waste and scrap of precious metals or of metal clad with precious metals; other waste and scrap containing
-Precious metal compounds
-Motor spirit commonly known as petrol, High speed diesel oil
Due to Excise Duty:
-Cigarettes
-Hookah or gudaku tobacco
-Smoking mixtures for pipes and cigarettes
-Biris
-Chewing tobacco
-Jarda scented tobacco
-Petroleum crude
-Petrol
-Diesel
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