Cars, along with their fuel, TVs, cigarettes, tobacco, air-conditioners, and gold and silver jewellery will cost more due to hike in excise duty.
Consumers will have to pay more for petrol, diesel, cars, TVs, cigarettes, tobacco, air-conditioner, gold and silver as the Government on Friday announced hike in excise duty as part of a partial roll back of stimulus measures announced for reviving the economy.
On the other hand, mobile accessories, medical equipment energy efficient CFL lamps, set top boxes, compact disc, toys and books will be cheaper on account of some tax concessions offered on these items by Finance Minister Pranab Mukherjee in the Union Budget for 2010-11.
“Symptoms of economic recovery are widespread and more clear now,” he said.
Before announcing the tax measures, Mr. Mukherjee substantially cut income tax rates along with other direct tax concessions that would result in a net loss of Rs 26,000 crore to the exchequer