What Is Cheaper And What Is Costlier

Union Finance Minister Nirmala Sitharaman on Saturday announced increase in customs duty on imported wall fans, tableware and kitchenware. In Budget 2020-21, Sitharaman also proposed withdrawal of customs duty exemption on raw sugar, agro-animal based products, tuna bait, skimmed milk, certain alcoholic beverages, soya fibre and soya protein. Customs duty on wall fans increased from 7.5 per cent to 20 per cent, while the same on tableware/kitchenware made of porcelain or China ceramic, clay iron, steel and copper has been doubled to 20 per cent.

The Budget 2020 also provided for e-commerce operators to deduct TDS on all payments to e-commerce participants at 1 per cent with PAN/Aadhaar, 5 per cent in non-PAN/Aadhaar.

Here's what got costlier

Footwear Furniture Imported medical equipment. Cigarettes, tobacco products. Tableware/kitchenware made of porcelain or China ceramic, clay iron, steel, copper. Parts of commercial vehicles, other than EVs. Wall fans Soya fibre Agro-animal based products Certain alcoholic beverages Skimmed milk Mobile Phones

Cheaper

Light weight coated paper  Anti-dumpting duty on purified terephthalic acid (PTA) abolished. Customs duty exemption on raw sugar, agro-animal based products, Tuna bait, skimmed milk, certain alcoholic beverages, soya fibre, soya protein withdrawn. Purified terephthalic acid (PTA)

For all the Latest Business News, Budget 2020 News, Download News Nation Android and iOS Mobile Apps.