Budget 2023: Full List of Cheaper and Costlier Items
Updated on: Mar 20th, 2023 - 7:43:21 AM
6 min read
Here is the full list of items that will get cheaper and costlier in FY 2023-24:
Travel by flights
Silver dores, bars and articles
Lithium-ion batteries for mobile phones
Electric kitchen chimney
Acid grade fluorspar
Imported vehicles and electric vehicles (EV)
Fish lipid oil used in manufacturing aquatic feed
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
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.
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