Which products will be expensive and cheaper in FY-2018?
What is cheaper and what will become more expensive? In this GST era, this is one of the most important queries on the common man’s mind. Though the 2018 Union Budget presented by Finance Minister Arun Jaitley did not announce any major changes in the price of commodities and services, changes in excise and customs duties on certain items set to get costlier from April 1.
A large number of imported items including mobile handsets, cars and motorcycles, fruit juices, perfumes and footwear will become costlier as the Union Budget 2018-19 hiked customs duties on these products.
However, select items such as imported raw cashew nuts, solar tempered glass and raw materials and accessories of cochlear implants will become cheaper with the government today reducing import duties on these items.
Imported items that will become costlier
- Mobile phones, Silver, Gold Cars and motorcycles
- Vegetable, fruit juices, including orange and cranberry
- Sunglasses, Miscellaneous food preparations other than soya protein
- Perfumes and toilet waters Sunscreen, suntan, manicure, pedicure preparations
- Preparations for oral dental hygiene, denture fixative pastes and powders; dental floss
- Pre-shave, shaving or after-shave preparations
- Deodorants, bath preparations, depilatories, perfumery
- Scent sprays and similar toilet sprays
- Truck and Bus radial tyres
- Silk Fabrics, footwear
- Coloured gemstones, Diamonds, Imitation jewellery
Smart watches/wearable devices
- LCD/ LED TV panels
- Furniture, Mattresses
- Lamps Wrist watches, pocket watches, clocks
- Tricycles, scooters, pedal cars, wheeled toys, dolls’ carriages, dolls, toys, puzzles of all kinds
- Cigarette and other lighters, candles, Kites
- Edible/vegetable oils such as olive oil, groundnut oil
Products/services that will turn cheaper:
- Raw cashew nuts
- Solar tempered glass or solar tempered glass used for manufacture solar panels/modules
- Raw materials, parts or accessories used in making cochlear implants
- Select capital goods and electronics such as ball screws and linear motion guides.