Union Finance Minister Nirmala Sitharaman presented the Union Budget for the fiscal year beginning April 1. Following the budget, a number of commonly used items will become more expensive for the consumers.
Here's a list of items that will become cheaper and costlier in FY24:
Articles made from gold bars will see the basic customs duty hiked.
Customs duty on kitchen electric chimney has also been increased to 15% from 7.5%.
Basic customs duty on seeds used in manufacturing of lab-grown diamonds will be reduced.
Customs duty on shrimp feed to promote exports will also be reduced.
Concessional basic customs duty of 2.5% on copper scrap will continue.
The budget also proposes to cap deductions from capital gains on investments in residential houses to ₹10 crore.
Custom duty on cigarettes has been increased.
Basic custom duty rates on goods other than textiles and agriculture has been reduced from 21 to 13.