Finance Minister Pranab Mukherjee today retained the rate of standard excise duty at 10 per cent in the Budget for 2011-12, giving a little respite to industry, which feared a rollback of stimulus measures. However, he has brought 130 items under the tax net by withdrawing exemptions granted earlier, though the burden would only be of the order of 1 per cent. Most of these relate to the consumer goods sector.
The list of the items that will become cheaper and more expensive are as under:
Battery driven vehicles
Diapers and sanitary napkins
Hybrid fuel kits
Air-conditioned Bars & restaurants (serving liquor)
Air conditioned Hospitals
(With PTI inputs)