Cigarettes, silver, artificial jewellery, items produced from gold bars, platinum, electric kitchen chimneys, imported toys and bicycles, and foreign electronic vehicles to become more expensive from April 1, 2023.
Given the 16% rise in the customs charge on a certain category of cigarettes, cigarettes could be more expensive.
Import taxes on silver bars and items, duty taxes on gems and jewellery made of gold and platinum, and price increases for brass and other imitations all contributed to an increase in the cost of imitation jewellery.
Customs duty on the import of electric vehicles, automobiles, and motorbikes has been hiked.
Prices for televisions would drop slightly beginning April 1 since the major customs tax on parts of open cell television panels has been reduced from 5% to 2.5%.
Customs charges on the import of capital goods and machinery for producing lithium-ion batteries would be waived beginning April 1, affecting the prices of Indian-made electronic cars.
The reduction of basic customs charges on some elements of camera lenses and mobile phones would result in lower prices for mobile phones beginning April 1, 2023.
Mobile phones, televisions made in India, lithium-ion batteries, electronics vehicles made in India, camera lenses, toys and bicycles made in India, would be cheaper than the last year.
Customs duties on lab-grown diamond seeds have been cut from 5% to 0%.
The primary customs duty on parts of open cell television panels has been reduced from 5% to 2.5%, effective April 1, 2023.
Customs charges on the import of capital goods and machinery for the manufacture of lithium-ion batteries would be waived beginning April 1, affecting the prices of Indian-made electronic cars.