FEBRUARY 1, 2020
A vendor arranges vegetables at a market in Chennai – ARUN SANKAR/AFP via Getty Images
You will have to pay more for several items, including imported medical equipment, cigarettes and tobacco products among others after finance minister Nirmala Sitharaman announced a raise in tax in the Union Budget 2020.
At the same time, Nirmala Sitharaman proposed the withdrawal of customs duty exemption on raw sugar, agro-animal based products, tuna bait, skimmed milk, certain alcoholic beverages, soya fibre and soya protein.
Here’s a look at the things you will have to pay more and those whose prices will drop:
Pay more
• Medical equipment
• Footwear
• Furniture
• Wall fans
• Cigarettes, tobacco products
• Tableware/kitchenware made of porcelain or China ceramic
• Clay iron
• Steel
• Copper
• Catalytic converters
• Parts of commercial vehicles
• Selected electronic vehicles
• Selected toys
• Selected mobile equipment
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Pay less
• Raw sugar
• Skimmed milk
• Soya fibre
• Soya protein
• Certain alcoholic beverages
• Agro-animal based products
• Tuna bait
• Purified terephthalic acid (PTA)
• Newsprint
• Lightweight coated paper
Courtesy/Source: Hindustan Times
