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What becomes expensive in Union Budget 2013-14 Last Updated : 28 Feb 2013 01:43:06 PM IST File photo: Finance Minister P Chidambaram
Almost all items have become costlier after a steep hike in the Union Budget presented by Finance Minister P Chidambaram on Thursday.
Mobile phones, AC restaurants and SUV vehicles, all have become costlier in the proposed Union Budget 2013-14.
Finance minister have increased 6% excise duty on mobile phones which cost more than Rs 2,000, based on their maximum retail prices.
Service tax to be levied on all AC restaurants.
The excise duty on Imported SUV vehicles have increased from 27% to 30%, SUVs registered as taxis exempted.
The import duty for luxury vehicles have been raised from 75 to 100 percent.
Chidambaram also proposed to hike the import duty on motorcycles with engine capacity of 800 cc or more from to 75 per cent from 60 per cent.
"...and on yachts and similar vessels from 10 per cent to 25 per cent," he added.
The price of Cigarettes and bidis, Pan masala and chewing tobacco has also increased in Union Budget 2013-14.
Specific excise duty on cigarettes and cigars raised by 18 per cent.
On the other hand, Vocational courses offered by state-affiliated institutes to be exempted from services tax.
Duty free limit on gold raised to Rs 50,000 in case of male and Rs 100,000 in case of female.
To boost manufacturing and selling of environment- friendly vehicles, Chidambaram proposed to continue and extend the currently available concessions on specified parts of electric and hybrid vehicles till March 31, 2015.
In Budget for 2012-13, the excise duty on specified parts of hybrid vehicles was reduced to 6 per cent from 10 per cent.
Excise duty on lithium ion battery packs for electric or hybrid vehicles was also cut to 6 per cent from 10 per cent.
Footwears and readymade garments will be cheaper.Source:PTI, Other Agencies, Staff Reporters
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