Budget 2009-10: What's cheap, what's not
1) Custom duty up on gold bars
Proposal: Basic customs duty on gold bars bearing manufacturer’s or refiner’s engraved serial numbers and weight (expressed in metric unit) and gold coins has been increased by Rs 100 per 10 grams.
Impact:Imported gold bars and gold coins of 10 grams could be costlier by Rs 110 to Rs 125 per 10 grams
2) Custom duty up on gold ornaments
Proposal: Basic customs duty on gold ornaments (other than ornaments studded with stones and pearls) has been increased by Rs 250 per 10 grams.
Impact: Imported gold ornaments of 10 grams could be costlier by Rs 280 to Rs 320.
3) Silver loses sheen
Proposal: Basic customs duty on silver (in any form ie bars, coins, jewelry) has been increased by Rs 500 per kg.
Impact:Imported silver bars, coins and jewelry could be costlier by Rs 575 to Rs 625 per kg
4) Branded jewelry
Proposal: Branded jewelry (where brand name is embossed on the jewelry) has been exempted from basic excise duty
Impact: A Gili pendent costing approximately Rs 15,000 is likely to be cheaper by Rs 300.
5) Music may come dearer
Proposal: Excise duty on MP3/ MP4 or MPEG 4 players with or without radio/ video reception
Impact: A Sony Walkman 2GB mp3 player costing approximately Rs 3,990 is likely to be costlier by Rs 170. Further, an Apple i Pod touch 8GB with MPEG 4 player costing approximately Rs 12,000 could pinch your pocket by an extra Rs 500.
6) Car Care
Proposal: Excise duty on motor vehicles with engine capacity more than 1999cc has been reduced by Rs 5,000 per unit.
Impact: A car with capacity higher than 1999cc could cost less by Rs 7,000 to Rs 8,500.
7) Clear Sight
Proposal: Excise duty on contact lenses has been increased from 4% to 8%.
Impact: A Johnson & Johnson disposable contact lens available at approximately Rs 1,400 is now likely to be sold slightly at a slightly higher rate, say at Rs 1,450.
8) Light a fire
Proposal: Excise duty on LPG stoves has been increased from 4% to 8%
Impact: A Jaipan double burner LPG stove worth around Rs 2,000 may be costlier by Rs 75 or so.
9) Sporty budget
Proposal: Basic customs duty is being fully exempted on snow skis and other snow-ski equipment, water-skis, surf-boards, sailboards and other watersports equipment.
Impact: A inflatable water raft costing around Rs 2,00,000 is likely to be cheaper by Rs 15,000 to Rs 20,000. Happy skiing.
10) Artificial heart to cost less
Proposal: Basic customs duty on artificial heart (left ventricular assist device) is being reduced from 7.5% to 5%.
Impact: Artificial heart devices are likely to be retailed cheaper by 4% -5%
11) Service Tax on Plastic Surgery
Proposal: Service tax is levied on cosmetic surgery or plastic surgery service
Impact: Any cosmetic or plastic surgery (other than surgery to restore, reconstruct for body affected due to congenital defects, developmental abnormalities, degenerative diseases, injury or trauma) could be costlier by 10.3%.
12) Life Saving Drugs
Proposal: Basic customs duty on certain life-saving drugs is reduced from 10% to 5%. They will also be totally exempt from excise duty and countervailing duty.
Impact: Certain life-saving drugs used for the treatment of breast cancer, hepatitis-B, rheumatic arthritis etc could be cheaper by 7% to 15%.
Source : ERNST & YOUNG
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