Union Budget: Cigarettes, cars and SUVs to become expensive

Union Budget: Cigarettes, cars and SUVs to become expensive

Submitted by rajiv on Mon, 2016-02-29 16:18 Bengaluru: Finance Minister Arun Jaitley’s budget announcements will make these things costlier: Cigarettes: Finance minister has targeted smokers and consumers of tobacco again. Prices of cigarettes are set to go up as excise duty increased by 10-15�n tobacco products, except bidi. Branded retail garment: A 6 percent excise on branded retail garments priced more than Rs1,000 will push up garment prices as well. Cars: Tax on cars and SUVs costing more than Rs10 lakh. There will be a 1 percent tax on cars with gasoline engines, a 2.5 percent tax on those with diesel engines and a 4 percent tax on high engine-capacity vehicles and sports utility vehicles. Imitation jewellery: Buyers of imitation jewellery will need to shell out more as the basic customs duty has been hiked from 10�o 15�Mobile phones and accessories: Various exemptions such as basic customs duty, countervailing duty, special additional duty of customs on charger/adapter, battery and wired headsets/speakers for manufacture of mobile phones are being withdrawn, which will make the phones costlier. What will get cheaper? Refrigerators, solar lamps, perfumes and deodorants, footwear, router, broadband modems and set top boxes, digital video recorder and CCTV cameras, hybrid electric vehicles.