Budget Measures and Impact: Central Excise, Excise duty on cigarettes...

Jul 11 2014, 12:43 IST
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Excise duty on cigarettes, tobacco products raised Excise duty on cigarettes, tobacco products raised
SummaryPersonal computers, soaps, spandex yarn, select petrochemicals to get cheaper

Union Budget 2014-15 was presented by Finance Minister Arun Jaitley in the Lok Sabha in New Delhi on Thursday.

Here are the top measures and their impact:

* Inverted duty structure corrected

Personal computers, soaps, spandex yarn, select petrochemicals to get cheaper

* Central Excise Valuation Rules, 2000, amended Many auto & consumer goods companies that offered discounts and were served extra excise duty demand on the basis of SCís Fiat India ruling get relief

*Tariff protection to electronic items

Imported electronic & telecommunication items to get expensive

* Items in service tax negative list, exemptions reduced

Service tax now applicable on all ads except for print media, AC contract carriages, technical testing of new drugs on humans

* Excise duty on cigarettes, tobacco products raised

Cigarettes, cigars, gutka get expensive

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