Thursday, 28 February 2013

Budget News Update 2013-14



Budget News Update 2013-14

Budget speech ends; Markets are down, Sensex falls around 50 points.
Finance minister P Chidambaram closes Budget presentation with a quote from Swami Vivekananda.
Duty-free limit for gold raised to Rs 50,000 for men and Rs 1 lakh for women.
6% tax hike on all mobile phones above Rs 2000.
Mobile phones above Rs 2000 to cost more.
Set-top box import duty hiked.
Service tax to be levied on all restaurants.
Cigarettes to cost more. Excise duty on cigarettes increased by 18%.
SUVs to get costlier.
Customs duty on SUVs raised from 75% to 100%:
11 lakh beneficiaries have received benefit under Direct Benefit Transfer scheme: FM
Education cess to continue at 3%: FM
No change in normal rates of customs and excise duty rates: FM

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