10 items to get costly after Budget 2018
by Paras Mehra 4.75K
For past several decades now, people see the financial budget as a bonanza for pockets but this time it is different. Yes, people! We have some bad news for you this budget. There are many items which will become costly due to change in customs duties by the government.
The finance minister Arun Jaitley said during the budget that import duty on certain items has been increased to promote the domestic industry and make I India program. Whatever the reason may be, one thing is sure that this budget will cost you more.
As said, here are 10 items that will go to cost you more;
1. Imported Perfumes, after shave lotion etc to get costly by 10%
If you are perfume lover, then you have to shed some more money in order to buy a product of your choice. The customs duty on perfumes is all set to increase to 20% from existing 10%.
Suggestion: Be desi! And buy domestic perfumes to save additional cost.
2. Footwear to get costly by 10%
The real worth of a man can be judged by the quality of shoes he buys. Footwear is one of the biggest markets in India and people are very particular about the shoe they wear. However, if you are a footwear lover, then your love will be cost you more by another 10%. The customs duty on shoes is all set to increase to 20% from the existing 10% on footwear.
Suggestion: Let’s pray that Baba Ramdev will soon launch the Patanjali shoes.
3. Mobile phone to get costly by 5%
Namaste to all MI, iPhone lovers! Your mobile phones are going to get costly by 5% as the government has increased the customs duty on Mobile phones by 5%. Earlier, the customs duty was 15%, but now it has been raised to 20%.
Suggestion: Don’t change phone too often, wait for next budget!
4. LED/LCD panels to get costly by 7.5%
This is another set of the item which is all set to become costly by 7.5%. LED and LCD attract the customs duty of 7.5% presently, but now the same has been proposed to increase to 15%.
Suggestion: View shows on youtube and not on TV.
5. Smartwatches/wearable devices to get costly by 10%
Smartwatch lovers! Now, pay extra 10% to buy your favorite smartwatch as the government has increased the customs duty by another 10%. Currently, the customs duty is 10% but now the same has been proposed to increase to another 20%.
Suggestion: Smartwatch lovers! Be smart don’t buy.
6. Wristwatches to get costly by 10%
Armani lovers! Wristwatches in India to get costly by 10% and of course the same reason increase in customs duty. This is another product which will go to get costly by 10%. The customs duty on wristwatches has been increased from 10% to 20%.
Suggestion: You can always see time on mobile avoid wrist watches.
7. Imported toys to get costly by 10%
After reading this point, your children may start crying as their toys are all set to become costly by another 10%. This may be called child exploitation? Haha!
Anyways, we are serious and the import duty on toys has been increased from 10% to 20%.
Suggestion: Teach your children to love desi! Buy Indian made toys.
8. Sunglasses to get costly by 10%
Thinking of spending your vacation in Goa with your sunglasses? If yes, then you need to increase your budget as sunglasses will get costlier by 10%. As the customs duty on Sunglasses has been all set to increase from 10% to 20%.
Suggestion: You don’t need sunglasses, you look cool without them.
9. Cigarette lighters to get costly by 10%
Cigarette smoking is getting costly but now lighting it will also become costly as import duty on cigarette lighters has been increased from 10% to 20%.
Suggestion: Use matchbox instead of lighters!
10. Silk fabrics to get costly by 10%
Boys and girls! Do you wear silky cloths? If yes, then you might have to rethink about it as your favorite silk will be going to get costly by 10%.
Suggestion: Summer is ahead! Wear T-shirts and jeans.
Conclusion
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