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While consumers will have to pay more for petrol, diesel, cars, TVs, cigarettes, tobacco, air-conditioner, gold and silver with the hike in excise duty the good news is that mobile accessories, medical equipment energy efficient CFL lamps, set top boxes, compact disc, toys and books will be cheaper on account of some tax concessions offered on these items by Finance Minister Pranab Mukherjee in the Union Budget for 2010-11. "Symptoms of economic recovery are widespread and more clear now," he said. Before announcing the tax measures, Mukherjee substantially cut income tax rates along with other direct tax concessions that would result in a net loss of Rs 26,000 crore to the exchequer. Also the extension of the benefit of 4% SAD (special additional duty) exemption on mobile phone parts, components and accessories to March 31, 2011, from the June 2010 deadline was announced. |
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