Budget 2018: Tax Proposal – Indirect Tax

Mobile phone and acessories Customs duty – increase from 15-20%

Import of Vegetable & Fruit juices to be costlier

Import of Perfume and toiletry preparation to be costlier

Import of Automobile and its parts, Foot wear, Televsion and its parts, furniture’s, toys and games, watches and clocks,Silk fabrics, Diamonds, precious stones and jewellery will be costlier

Import of Raw Cashew: Reduced to 2.50% from 5%

Changes in Customs Act, 1962 proposed

Education Cess and Higher Secondary Education cess is abolished and INTRODUCED Social Welfare Surcharge @ 10% of aggregate duties of Customs. For petrol & diesel, gold, silver the Social Welfare Cess is restricted to 3&

 

 

 

 

 

Budget 2018: Tax Proposal – Indirect Tax

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