Certain modifications are carried out over various consumer goods in according to the newly amended budget plan for 2017. The Finance Minister Arun Jaitley refrained from proceeding with too many changes.
A gradual increase in tobacco prices is observed since a long time. This year might be an another ‘hole in the pocket‘ year for the Smokers and tobacco consumers the finance minister continued with the crackdown on cigarettes and tobacco products by increasing taxes in the budget for 2017-18.
Items that will be expensive in 2017:
- With the increase in excise duty on unmanufactured tobacco from 4.2 percent to 8.3. This would increase the prices of beedi and cigarettes.
- The excise duty on non-filter cigarettes has been raised from Rs 215 per thousand to Rs 311 per thousand.
- The excise duty on pan masala has been increased from 6 per cent to 9 per cent.
- Cheroots, cigars, might experience 12.5 percent more, due to the hike in excise duty.
- 5 percent of customs duty would be imposed on LED lights.
- Cell phones are expected to turn costlier as the customs duty on printed circuit board has been hiked by 2 per cent.
What turns cheaper:
- Railway tickets will turn considerably cheaper, with service tax on e-tickets waived off.
- Customs duty on LNG reduced from 5 per cent to 2.5 per cent.
- Customs duty waived off on solar powered glass panels.