Imported mobile, AC: From April 1, these things may become costlier and here's why
As the new financial year begins from April 1, several daily-use things are likely to become dearer as, in Budget 2021, finance minister Nirmala Sitharaman reviewed the customs duty on several items, which will result in a price change.
What will become costlier
Imported mobile phones are likely to become costlier as, in Budget 2021, the government withdrew a few exemptions on mobile phone parts, like printed circuit board assembly (PCBA), camera module, connectors, back cover. Similarly, mobile phone charger will also become costlier as customs duty on parts used to make battery packs will be increased from 0 to 2.5 per cent.
Auto parts like safety glasses, ignition wiring sets will have a higher customs duty from April 1, which may make cars and bikes more expensive.
Refrigerators and air-conditioners will become costlier as the customs duty on compressors has been hiked from 12.5 per cent to 15 per cent.
Union Budget 2021: Here is what will be dearer and cheaper now
Imported leather goods — footwear, bags — will become costlier as the government is withdrawing exemption on imports in an attempt to push made-in-India products.
LED lamps and solar products will become expensive as the duty on inputs and parts have been raised from 5 per cent to 10 per cent.
Apart from these decisions announced by Sitharaman in her budget speech, air travel will become costlier from April 1 as the Directorate General of Civil Aviation (DGCA) has decided to hike the air security fee. For domestic passengers, this fee will be ₹200 and for international passengers, it will be US$12.
What will become cheaper?
Imported gold and silver will become cheaper as the customs duty of 12.5 per cent has been reduced to 7.5 per cent.
Customs duty on platinum and palladium has been reduced from 12.5 per cent to 10 per cent.
Soybean oil, sunflower will become cheaper because of a slash in custom duty.