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Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on import of their components but smokers would have to pay more as the government has increased taxes.
Union minister of finance and corporate affairs Nirmala Sitharaman presented the Union Budget 2023-24 in the Parliament.
Basic customs duty reduced from 21% to 13%
Finance Minister Nirmala Sitharaman presented the union budget 2023-24 in the Parliament, bring a huge relief to tax payers by increasing the tax slabs.
Union Finance Minister Nirmala Sitharaman during her Budget speech on Wednesday proposed to reduce the number of Basic Customs Duty (BCD) rates on goods other than textiles and agriculture from 21 per cent to 13 per cent.