New Delhi: Though Finance Minister Arun Jaitley in his budget speech for 2017-18 on Wednesday said his proposals on excise and customs duties will not result in any significant loss or gain to the exchequer, the fine print suggests a host of items can become either cheaper or costlier.
Items like LED lamps, solar panels, printed circuit boards for mobiles, micro ATMs, finger-print machines and Iris scanners will potentially become cheaper.
On the other hand, silver coins, cigarettes and tobacco, bidis, pan masala, goods imported through parcels, water filter membranes and cashew nuts will become dearer.
"Centre, through the Central Board of Excise & Customs, shall continue to strive to achieve the goal of implementation of GST (Goods and Services Tax) as per schedule without compromising the spirit of co-operative federalism," Jaitley said while presenting the Budget.
"Implementation of GST is likely to bring more taxes both to central and state governments because of widening of tax net. I have preferred not to make many changes in current regime of Excise & Service Tax because the same are to be replaced by GST soon," he added.
What will turn cheaper:
* Booking railway tickets online, following the service charge being scrapped
* Reverse Osmosis membrane elements used in household water purifiers
* Solar tempered glass used in solar panels
* Fuel cell based power generating systems
* Wind operated energy generator
* Vegetable tanning extracts used in making leather products
* (Point of Sale) POS machines card, micro ATM component and fingerprint readers, Iris scanners
* Group insurance for defence services
What will turn costlier:
Cigarettes, pan masala, cigar, cheroots, bidis, chewing tobacco
LED lamp components
Cashew nuts (roasted and salted)
Aluminum ores and concentrates
Polymer coated MS tapes used in manufacturing of optical fibres
Silver coins and medallions
Printed circuit board used in making mobiles