Those who are crazy for imported goods, budget 2018 is a little disappointing for them. Are you one of them? Keep reading. With the begin of the new budgetary year, an extensive number of imported objects will flip costlier, as the recommendations made by the Finance Minister Arun Jaitley in his budget speech. And, it will be effective from April 1, 2018. Let’s see What’s Costlier, What’s Cheaper from April 1, 2018?
A part of Finance Minister’s Budget 2018 speech:
In his Budget 2018 Speech, Finance Minister Arun Jaitley said, “I propose to increase customs duty on mobile phones from 15% to 20%, on some of their parts and accessories to 15% and on certain parts of TVs to 15%. This measure will promote the creation of more jobs in the country”.
Not only gadgets but, customs duty will move up on a large variety of household goods. Just to give you an idea, there is a quick overview:
• Orange juice to 35% from the prior rate of 30%
• Cranberry juice rate will be up five times to half
• Watches and shades upto to 20% from 10%
• Diamond gems and gemstones to 5% from 2.5%
• Customs obligation on footwear parts from 10% to 15%
• Imitation adornments to 20% from 5%
What’s Costlier, What’s Cheaper from April 1, 2018?
Here is a detailed list of What’s Costlier, What’s Cheaper from April 1, 2018:
The list of costlier things seems to be too long as compared to the cheaper things. So, sit peacefully, take out your calculator and re-plan your monthly budget to manage your finances. I would suggest reading the changes in Income Tax rules from April 1, 2018 onward. Click the link below to read. This will help you in planning your budget for FY 2018-19 onwards.
Recommended Read: 7 Income Tax Changes Effective from April 1, 2018