Budget 2019: What's cheaper and

what's dearer - GST impact

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GST – Budget 2019
 Finance Minister Nirmala Sitharaman presented the
maiden budget of Modi 2.0 announcing easing of FDI
norms in single-brand retail.
 After promising tax cuts and doles in the interim Budget,
the BJP-led dispensation had raised expectations for their
first full-fledged Budget after returning to power for a
second time.
 Here's a list of items that are expected to get cheaper
and dearer as Sitharaman's proposals kick in.
Economical - electronic items
Made in India electronic items:
Electronic items made in India are set to become cheaper
as the Finance Minister announced to withdraw customs
duty on these items.
Electric Vehicles
 The Finance Minister announced an additional income
tax deduction of up to Rs 1.5 lakh on the loan taken to
purchase an electric vehicle.
 The net benefit will be of the order of Rs 2.5 lakh as
India aims to become a global hub of manufacturing
electric vehicles.
 The GST rate on electric vehicles lowered from 12% to
5%.
Apple products
To get cheaper as FM proposes to ease FDI norms in
single-brand retail. Investment-linked tax benefit on
manufacturing of products like lithium batteries and solar
chargers.
Costlier - Petrochemicals
Petrol and Diesel:
Proposal to increase Special Additional Excise duty and
Road and Infrastructure Cess each by one rupee a litre.
 Gold: The Government proposed to increase customs
duty on gold and other precious metals from 10% to
12.5%.
 Tobacco products: Proposal to impose nominal basic
excise duty on tobacco products
 Imported books: To encourage domestic publishing and
printing, 5% customs duty is being imposed on imported
books.
 Stainless steel products: It was proposed that duty be
hiked from 5% to 7.5% on such items.
 Electronic goods ( Charger/ power adapter of CCTV
camera/CCTV camera and IP camera): Such
electronic goods are set to get costlier by at least 5%.

 Split AC: Indoor and outdoor units of Split Air

Conditioning units are set to get costlier by 10%.

 Automobile and automobile parts: Imported

automobile and auto parts to get costlier to make way for
Make in India.
 Textile
 Fully-imported cars
 Cashew Kernels
 Imported plastics
 Raw materials for manufacture of soap
 Optical fibre
 Ceramic tiles and wall tiles
 Set top box
 Import of defence equipment, not manufactured in India.
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