Costlier and cheaper - The budget after effects

February 29, 2008 by financeminister

Tax decreased on

• Small cars and hybrid cars - Excise duty reduced from 24 per cent to 14 per cent.
• Two wheelers - Excise duty reduced.
• Consumer goods - 2 per cent cut in excise duty on all consumer goods.
• Sports goods
• Life saving drugs including anti AIDS drugs will now enjoy tax breaks.

Tax increased on

• Cigarettes - Non filter cigarettes also to be taxed same as filtered cigarettes.
• Mobile phones - One per cent excise duty proposed on mobile phones.
• Software - Excise duty on packaged software increased from 8 per cent to 12 per cent.