Bhubaneswar: A large number of commonly used items, including mobile phones and mobile phone chargers, are set to become cheaper with Finance minister Nirmala Sitharaman announcing duty concessions to parts of the transformer of mobile phone chargers and camera lens of mobile camera module and certain other items.
The price of domestic electronic wearable devices, hearable devices and electronic smart meters will come down.
Custom duty on cut and polished diamonds and gemstones have been reduced to 5 per cent and simply sawn diamonds would attract nil customs duty. A simplified regulatory framework will be implemented by June this year to facilitate the export of jewellery through e-commerce, Sitharaman said.
Besides gen stones and diamonds, clothes, initiation jewellery, leather items and machines from foreign nations will also become cheaper.
Customs duty on certain critical chemicals namely methanol, acetic acid and heavy feedstocks for petroleum refining are also being reduced. Medicines and medical equipment will also cost less.
The FM also announced an extension of the exemption on implements and tools for the agriculture sector manufactured in India.
Custom duty exemption to steel scrap will also be extended.
Duty on umbrellas is being raised to 20 per cent. Exemption to parts of umbrellas is being withdrawn, the FM said.
All imported items will become expensive from now.
