Union Budget 2013: SUVs, Smartphones, Cigarettes To Cost More


Subsequently, basic customs duty on new passenger cars and other motor vehicles (high-end cars) costing more than  $40,000 and/or engine capacity exceeding 3,000cc for petrol run vehicles and exceeding 2500 cc for diesel run vehicles has been hiked 100 per cent from 75 per cent earlier. Likewise, duty on yachts and similar vessels has also been raised to 25 per cent from 10 per cent.

In a blow to mobile handset makers, excise duty on instruments priced above 2, 000 has been raised to six per cent but the concessional excise duty of one per cent and has been kept unchanged in the case of low priced phones. Smokers will also have to shell out more for their puffs with Mr. Chidambaram training his eyes on them for more tax revenues.

“What does a Finance Minister turn to when he requires resources? The answer is cigarettes. I propose to increase the specific excise duty on cigarettes by about 18 per cent. Similar increases are proposed on cigars, cheroots and cigarillos,” he said while delivering the Budget speech.

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Source: PTI