What’s cheaper, what’s dearer after Union Budget 2019

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New Delhi: Finance Minister Nirmala Sitharaman in her maiden Budget speech has announced a slew of items that will become costlier as well as cheaper.

The most important item that will become costlier are petrol and diesel prices –the prices of which are set to rise as more excise duty will be be levied upon them by the government. Another item to fall under costlier list is the custom duty on gold and other precious metals.

As part of road and infrastructure cess (customs), the government has decided to hike the cess on the fuel products from Rs 8 per litre to Rs 9 per litre.

I propose to increase Special Additional Excise duty and Road and Infrastructure Cess each by one rupee a litre on petrol and diesel,” FM Sitharaman had said in her Budget speech.

The Finance Minister has also proposed to increase custom duty on gold and other precious metals from 10 percent to 12.5 percent.

In order to provide domestic industry a level playing field, the FM said basic customs duty is being increased on items such as cashew kernels, PVC, Vinyl flooring, tiles, metal fittings, mountings for furniture, auto parts, certain kinds of synthetic rubbers, marble slabs, optical fibre cable, CCTV camera, IP camera, digital and network video recorders etc.

Also, exemptions from custom duty on certain electronic items which are now being manufactured in India are being withdrawn.

Major Items that will become cheaper

Reduction in Customs duty on inputs and raw materials

Naphtha: From 5 percent to 4 percent

Methyloxirane: From 7.5 percent to 5 percent

Ethylene dichloride: From 2 percent to Nil

Raw materials used in manufacture of Preform of Silica: From Applicable rate to Nil

Wool fibre, Wool Tops : From 5 percent to 2.5 percent

Capital goods used for manufacturing Populated PCBA, Camera module of cellular mobile phones, Charger/Adapter of cellular mobile phone, Lithium Ion Cell, Display Module, Set Top Box, compact Camera Module : From Applicable rate to Nil

Specified Military equipment and their parts imported by Ministry of Defence or Armed forces : From Applicable rate to Nil

Raw material, parts or accessories for use manufacture of artificial kidneys, disposable sterilized dialyzer and micro-barrier of artificial kidney : From Applicable rate to Nil

All forms of Uranium ores and concentrates, for generation of nuclear power: From 2.5 percent to Nil

Parts for exclusive use Electric vehicles – E-drive assembly, On board charger, E compressor, Charging Gun : From Applicable rateto Nil

Items that are getting costlier

Cashew kernels, broken: From Rs 60 per kg or 45% whichever is higher to 70 percent

Newsprint, Uncoated paper used for printing of newspapers, Lightweight coated paper used for
magazines: From Nil to 10 percent

Ceramic roofing tiles and ceramic flags and pavings, hearth or wall tiles etc : From percent to percent : From 10 percent to 15 percent

Stainless steel products: From 5 percent to 7.5 percent

Base metal fittings, mountings and similar articles suitable for furniture, doors, staircases, windows, blinds, hinge for auto mobiles: From 10 percent to 15 percent

Indoor and outdoor unit of split system air conditioner : From 10 percent to 20 percent

Stone crushing (cone type) plants for the construction of roads : From Nil to 7.5 percent

Charger/ power adapter of CCTV camera/ IP camera and DVR / NVR : From Nil to 15 percent

Loudspeaker: From 10 percent to 15 percent

Digital Video Recorder (DVR) and Network Video Recorder (NVR) : From 15 percent to 20 percent

CCTV camera and IP camera : From 15 percent to 20 percent

Optical Fibres, optical fibre bundles and cables : From 10 percent to 15 percent

 

Marble Slabs: From 20 percent to 40 percent

Petroleum crude: From Nil to Re 1 per tonne

Specified electronic goods such as switches, sockets, plugs, connectors, relays: From Nil to Applicable rate

Silver (including silver plated with gold or platinum) unwrought or in semimanufactured
forms, or in powder form : From 10 percent to 12.50 percent

Silver dore bar, having silver content not exceeding 95% : From 8.50 percent to 11 percent

Base metals clad with silver, not further worked than semi-manufactured : From 10 percent to 12.50 percent

Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form : From 10 percent to 12.50 percent

Gold dore bar, having gold content not exceeding 95% : From 9.35 percent to 11.85 percent

Base metals or silver, clad with gold, not further worked than semi-manufactured : From 10 percent to 12.50 percent

Platinum, unwrought or in semi-manufactured forms, or in powder form [ other than Rhodium] : From 10 percent to 12.50 percent

Base metals, silver or gold, clad with platinum, not further worked than semimanufactured : From 10 percent to 12.50 percent

Waste and scrap of precious metals or of metal clad with precious metals; other waste
and scrap containing precious metal compounds, of a kind used principally for the recovery of precious metal: From 10 percent to 12.50 percent

Gold and Silver imported by an eligible passenger as baggage : From 10 percent to 12.50 percent

Motor spirit commonly known as petrol, High speed diesel oil : From Rs 8 per litre to Rs 9 per litre

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