In her Budget 2020 speech, Finance Minister Nirmala Sitharaman announced an increase in customs duty on imported goods and other sectors that could pinch the pockets of masses. Here’s a look at what will be more expensive and what’s become cheaper. (Image: Reuters)
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Excise duty has been hiked on cigarettes, tobacco products. (Image: Moneycontrol)
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A health cess has been levied on import of medical equipment. (Image: Reuters)
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Customs duty has been raised on imported wall fans, porcelain or ceramic tableware and kitchenware, clay iron, steel and copper to 20 percent. (Image: Reuters)
Customs duty has been hiked on imported footwear and furniture.
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Customs duty has been raised on catalytic converters and parts of commercial vehicles (other than electric vehicles). Mentioned below are the things that will get cheaper.
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Duty exemption has been withdrawn on certain alcoholic beverages, raw sugar, agro-animal based products, tuna bait, skimmed milk, soya fibre and soya protein
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FM has halved customs duty on import of newsprint, lightweight coated paper to 5 percent.
