Major Impact of Indian Budget 2013

Only available on StudyMode
  • Topic: Duty, Sport utility vehicle, Excise
  • Pages : 1 (342 words )
  • Download(s) : 278
  • Published : March 4, 2013
Open Document
Text Preview

Consumer Items| Impact (Positive or Negative)| Budget Measure| Television set-top boxes| Negative| Customs duty on imported set-top boxes increased from 5% to 10%| Mobile Phones worth more Rs 2000| Negative| Increase in excise duty to 6%| Silk & silk products| Negative| Increase in the customs duty on raw silk from 5% to 15%| Cigarettes and tobacco products| Negative| Increase in the specific excise duty on cigarettes to about 18%. Similar increases are proposed on cigars, cheroots and cigarillos.| Branded Non-Allopathic medicines| Positive| An abatement of 35% on the excise duty on MRP based assessment in respect of branded medicaments of Ayurveda, Unani, Siddha, Homeopathy and bio-chemic systems of medicine| Imported Jewellery| Positive| Duty-free limit on imported jewellery raised to Rs 50,000 in the case of a male passenger and Rs 100,000 in the case of a female passenger| Ready-made Garments| Positive| Zero excise duty' for cotton and manmade sector (spun yarn) at the yarn, fabric and garment stages| Eating Out| Negative| Service tax levied on all air conditioned restaurants| Sports Utility Vehicles (except taxis)| Negative| Excise duty on SUVs increased from 27% to 30%| Environment-friendly vehicles| Positive| The period of concession now available for specified parts of electric and hybrid vehicles extended upto fiscal 2015| Imported Luxury Vehicles| Negative| Increase in the customs duty on imported motor vehicles from 75% to 100%; on motorcycles with engine capacity of 800cc or more from 60% to 75%; and on yachts and similar vessels from 10% to 25%| Home Furnishing and Decor| Positive| Handmade carpets and textile floor coverings of coir or jute exempted from excise duty|

Housing Construction| Negative| Increase in the excise duty on marble from Rs 30 per sq. mtr to Rs 60 per sq mtr.| High-end Homes| Negative| For buildings having homes and flats with a carpet area of 2,000 sq.ft. or more...
tracking img