70% Taxpayers Miss
Saving Taxes!
Saving Taxes!
Plan now to save more taxes!
Enter details to receive communications from ClearTax
+91
Budget 2023: List of Cheaper and Costlier Items
Updated on: Jul 23rd, 2024
|
2 min read
Here is the full list of items that will get cheaper and costlier in FY 2023-24:
What’s Costlier | What’s Cheaper |
| Travel by flights | Televisions |
| Imitation jewellery | Smartphones |
| Cigarettes | Compressed gas |
| Silver dores, bars and articles | Lab-grown diamonds |
| Bicycles | Lithium-ion batteries for mobile phones |
| Electric kitchen chimney | Acid grade fluorspar |
| Compounded rubber | Shrimp feed |
| Imported vehicles and electric vehicles (EV) | Fish lipid oil used in manufacturing aquatic feed |
| Copper scrap | Machinery for making lithium ion cell in electric vehicles |
| Articles made of gold and platinum | Raw materials for making CRGO Steel, ferrous scrap and nickel cathode |
| Imported bicycles and toys | Denatured Ethyl Alcohol |
| Textiles |
- National Calamity Contingent Duty (NCCD) on specified cigarettes was increased.
- The customs duty for importing silver dore, bars and articles is increased to 10% to align the rates with the duty imposed on gold dore and platinum. Further, the tariff rate on jewellery made from precious metals including gold, silver and platinum is increased from 20% to 25%.
- The customs duty on import of seeds used in manufacturing of rough Lab-Grown Diamonds (LGD) is brought down to “0%”.
- Extension is granted to the exemption from BCD on raw materials for manufacturing CRGO steel, ferrous scrap and nickel cathode.
- The basic customs duty on the electric kitchen chimneys has been increased.
- FM reduced the basic customs duty on parts of open cells of TV panels from 5% to 2.5% to encourage domestic manufacturing of television.
- The customs duty exemption is being continued for the import of capital goods and machinery that are used for manufacturing lithium-ion cells for batteries in electric vehicles.
- Exemption is also granted for excise duty on GST-paid compressed bio-gas used in blended compressed natural gas.
- Minor changes are carried out in the basic customs duties, cesses and surcharges on certain consumables imported, such as toys, bicycles, automobiles and naphtha.
Help and support
Loading Chat ...
BROWSE BY TOPICS
RELATED ARTICLES
POPULAR ARTICLES
YOU MIGHT BE INTERESTED IN
Products
Individuals
ClearServices
Resources & Guides
GST Resources
ITR Resources
Mutual Fund Resources
Tools
TRENDING MUTUAL FUNDS
ICICI Prudential Technology Fund Direct Plan Growth
Tata Digital India Fund Direct Growth
Axis Bluechip Fund Growth
ICICI Prudential Technology Fund Growth
Aditya Birla Sun Life Tax Relief 96 Growth
Aditya Birla Sun Life Digital India Fund Direct Plan Growth
Quant Tax Plan Growth Option Direct Plan
SBI Technology Opportunities Fund Direct Growth
Axis Long Term Equity Fund Growth
TOP AMCS
STOCK MARKETS
Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.
Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.
CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.
Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.
Cleartax is a product by Defmacro Software Pvt. Ltd.
Company PolicyTerms of use
ISO 27001
Data Center
SSL Certified Site
128-bit encryption