New financial year and then new prices
Posted on: 04/Apr/2017 9:40:43 AM
With the commencement of the new financial year, it is worthwhile to have a look at the items which are going to cost more and less.
Things that will cost less:
- No Service Tax for investment in Army, Navy, and Air Force employee group insurance
- As the tax in the water purifiers and their spares are reduced, their prices will be down.
- As the liquefied fuel gas custom tax has been reduced from 5 percent to 2.5 percent, the price for this item will be down.
- As the basic custom tax for leather products is reduced from 7.5 percent to 5 percent, the prices of some of the devices using this will come down.
- For the passenger who books tickets online through IRCTC website, the service charges have been withdrawn, So there will be a reduction in the fare.
- The custom tax on the Solar Power devices has been reduced. The price of the roof solar panel and its spares will come down.
- PoS (Point of Sales) device and its spares price will come down.
- The custom tax on fuel-based electricity generating devices has been reduced from 12.5 percent to 6 percent. So, the price of this item will come down.
Things that will cost more:
- In order to encourage domestic manufacturing of mobile phones, the tax of 2 percent has been imposed on the import of the mobile circuit board. So, the price of mobile phones will be up.
- As the tax on the equipment for making LED has been increased, LEDs will cost more.
- As the import tax on cashew nut has been increased from 30 percent to 40 percent, the price of cashew nut will be up.
- As additional tax has been levied on tobacco products, the prices of cigarettes, beedis, paan masalas, etc. will be up.
- Silver medals and items of more than 99 percent purity will cost more.
- Fibre optic related products used in the telecommunication industry will go up.
