With the start of the new financial year a large number of imported items will turn costlier, as the proposals made by the Finance Minister Arun Jaitley in his budget speech will get implemented from April 1, 2018.
“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 creation of more jobs in the country,” Arun Jaitley said in his Budget speech.
Not just electronics, customs duty will go up on a large range of household items. To give you an idea
• Cranberry juice rate will be up five times to 50%
• Orange juice to 35% from the earlier rate of 30%
• Watches and sunglasses upto to 20% from 10%
• Diamond jewellery and gemstones to 5% from 2.5%
• Customs duty on footwear parts from 10% to 15%
• Imitation jewellery to 20% from 5%
Here is the complete list of items that is set to become costlier from April 1, 2018 onwards.
Cars and motorcycles
Mobile phones
Silver
Gold
Vegetable, fruit juices, including orange and cranberry
Sunglasses
Miscellaneous food preparations other than soya protein
Perfumes and toilet waters
Sunscreen, suntan, manicure, pedicure preparations
Scent sprays and similar toilet sprays
Truck and Bus radial tyres
Silk Fabrics
Footwear
Coloured gemstones
Diamonds
Imitation jewellery
Smart watches/wearable devices
LCD/ LED TV panels
Preparations for oral dental hygiene, denture fixative pastes and powders; dental floss
Pre-shave, shaving or after-shave preparations,
Deodorants, bath preparations, depilatories, perfumery
Furniture
Mattresses
Lamps
Wrist watches, pocket watches, clocks
Tricycles, scooters, pedal cars, wheeled toys, dolls’ carriages, dolls, toys, puzzles of all kinds
Video game consoles
Articles and equipment for sports or outdoor games, swimming pools and paddling pools
Cigarette and other lighters, candles
Kites
Edible/vegetable oils such as olive oil, groundnut oil
Items set to become cheaper
Raw cashew by 2.5%
Solar tempered glass
Raw materials used in making cochlear implants
