Cheaper (Sasta Samaan)
Cosmetics, soaps and certain pharmaceutical:
Reduced the basic customs duty (BCD) on fatty acids, crude palm stearin, RBD and other palm stearin, specified industrial grade crude oils from 7.5 percent to Nil; crude glycerin from 12.5 percent to Nil and Crude glycerin from 12.5 percent to 7.5 percent.
Certain apparels such as active-wear, gloves, hosiery, leggings, skinny jeans, skinny jeans, swim suits, undergarments, etc.)
Reduce the basic customs duty (BCD) on inputs for manufacture of spandex yarn from 5 percent to Nil.
India assembled/ manufactured computers and laptops Exemption on all inputs/components used in the manufacture of personal computers from 4 percent special additional duty (SAD)
Fully imported electronic items: FM has imposed an additional education cess on imported electronic products to provide parity between domestically produced goods and imported goods;
Mobile SIMs: a 4 per cent exemption on SAD on PVC sheet and ribbon used for the manufacture of smart cards.
Low-end television sets: Cathode ray TVs are used by weaker sections who cannot afford to buy more expensive flat panel TVs. FM has exempted colour picture tubes from basic customs duty to make cathode ray TVs cheaper.
LED/LCDs below 19 inches: to encourage production of LCD and LED TVs below 19 inches in India, FM proposed to reduce the basic customs duty on LCD and LED TV panels of below 19 inches from 10 percent to Nil. Also, to encourage manufacture of LCD and LED TV panels, FM proposed to exempt from basic customs duty specified inputs used in their manufacture.
Precious and semi-precious stones: Pre-forms of precious and semi-precious stones are being fully exempted from basic customs duty
FOOTWEAR: As a measure of relief to the footwear industry, FM reduced the excise duty from 12 percent to 6 percent on footwear of retail price exceeding Rs 500 per pair but not exceeding Rs 1,000 per pair. Footwear of retail price up to Rs 500 per pair will continue to remain exempted.
Solar equipments/products: FM has exempted the following from excise duty:
> EVA sheets and solar back sheets and specified inputs used in their manufacture;
> solar tempered glass used in the manufacture of solar photovoltaic cells and modules;
> flat copper wire for the manufacture of PV ribbons for use in solar cells and modules
Radio cab service: FM has proposed a service tax on the service provided by radio-taxis to place them on par with rent-a-cab service.
Cotton clothes and other products: service tax on loading, unloading, storage, warehousing and transportation of cotton, whether ginned or baled, has been exempted to bring it on par with certain other agricultural produce
No tax on a purchase of product up to Rs 45,000 from Foreign Countries.
Cigarettes/cigars/ tobacco products and pan masala: FM has increased the specific excise duty on cigarettes in the range of 11 percent to 72 percent. Similar increases are proposed on cigars,cheroots and cigarillos. Likewise, the excise duty is being increased from 12 percent to 16 percent on pan masala, from 50 percent to 55 percent on unmanufactured tobacco and from 60 percent to 70 percent on gutkha and chewing tobacco.
Coca-Colas and other aerated drinks: FM proposed to levy an additional duty of excise at 5 percent on aerated waters containing added sugar.
Imported steel items: Imported flat-rolled stainless steel products will attract a higher basic customs duty from 5 percent to 7.5 percent.
The proposals on the indirect taxes side are estimated to yield Rs 7,525 crore
