Current Affairs

Budget 2011: Pay more, Pay Less

The Union Minister for Finance Pranab Mukherjee today retained the rate of standard excise duty at 10 per cent in the Budget for 2011-12, giving a little respite to industry, which feared a rollback of stimulus measures. However, he has brought 130 items under the tax net by withdrawing exemptions granted earlier, though the burden would only be of the order of 1 per cent. Most of these relate to the consumer goods sector.

The list of the items that you will pay more for and less are as under:

Pay More

  • Branded garments
  • Air-conditioned Bars & restaurants (serving liquor)
  • Air conditioned Hospitals
  • Air travel
  • Gold
  • Hotel services

Pay Less

  • Mobile phones
  • LED lights
  • Printers
  • Paper
  • Soap
  • Battery driven vehicles
  • Home loans
  • Diapers and sanitary napkins
  • Homeopathic medicines
  • Yarn/Raw silk
  • Food
  • Stainless steel
  • Refrigeration system
  • Agriculture machinery-Tractors
  • Cement
  • Gas dispensers
  • Solar lanterns
  • Hybrid fuel kits
  • Bio-based Asphalt

 

Leave a Reply

Back to top button
X

Adblock Detected

Please consider supporting us by disabling your ad blocker