What Costs More and  What is Cheaper?

YouSay Short News App

Union Budget 2023: 

The customs duty was raised on some items in the Center's proposed Budget 2023 while it was decreased on other items, even though we still need to get more clarity.

Let's explore which product prices will increase and which ones will decrease.

Products created from gold bars now have higher import taxes.

Products that will cost more

The cost of imported luxury vehicles  will rise.

Customs duty on cigarettes has been increased. Due to this, their rates will increase further

The prices of silver, diamonds, copper, and rubber will increase

TVs may cost less as customs duty on TV components was reduced to 2.5 percent. Earlier it was 5 percent

Products that will be less expensive

Buy New DSLR later this year, as there is no customs duty on the camera and DSLR lens. This benefit is available for one year

Prices of denatured ethyl alcohol, acid grade fluorspar will come down

Exemption of customs duty on  lithium-ion batteries

Gift your girlfriend a diamond later this year as the Customs duty on seeds used in lab-grown diamonds has been reduced

Reduced customs duty on shrimp feed. The government has taken this decision to promote exports.