Staff Reporter :
While presenting the national budget for the 2020-21 fiscal year, Finance Minister AHM Mustafa Kamal has proposed changes to duties on different products, which will result in increase or decrease in their prices
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Furniture: Furniture to see 2.5% VAT hike at showrooms.
AC launch travel: VAT to be doubled to 10% from 5%.
Car registration, renewal and other services: Supplementary Duty (SD) proposed to be hiked to 15% from the existing 10% on all BRTA services.
Chartered aeroplanes and helicopters: SD hiked to 30% from existing 25%.
Mobile services: SD hiked to 15% from existing 10% on services provided through mobile phone SIM/RIM cards including internet charge.
Imported cell phones: Existing duty rate proposed to be hiked.
Cosmetics: Locally manufactured cosmetics to have 10% SD from the existing 5%.
Ceramic sink and basin: 10% SD imposed at the manufacturing stage.
Industrial salt: Existing duty rate on industrial salt proposed to be hiked.
Imported honey: Natural honey in bulk to have 10% hike in Customs Duty and a fresh 15% VAT.
Lighting arrester: Customs Duty doubled to 10% from existing 5%.
Local tobacco products: All local tobacco products including cigarette, bidi, gul, jorda will witness a duty hike.
Others: Television, online shopping, aluminium products, furnace oil, imported poultry goods, painting charge, cement, printer ink, raw materials for glue, and lighting items will have a hike in duty.
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Locally produced mustard oil: Total VAT exemption proposed.
Onion: Duty on imported onion also to be decreased.
Up to 60 AMP solar battery: VAT exemption proposed on production for IDCOL partner organizations.
Potato flakes made of locally produced potatoes: VAT rate proposed at 5% from existing 15%.
Maize starch: VAT rate proposed at 5% from existing 15% on local manufacturing.
Covid-19 kits: VAT exemption proposed on import, manufacturing and trading of Covid-19 related kits.
Personal Protective Equipment (PPE) and Surgical Mask (including face mask): VAT exemption proposed on local companies’ manufacturing and trading stages.
Covid-19 medicine: VAT exemption proposed on import, manufacturing and trading.
Sanitary napkin and diaper: Customs duty to come down on import of raw materials.
Gold: Import of gold bar exempted from 15% VAT.
Local items: Locally made fridge, air-conditioner, cell phone, motorbike, refrigerator, plastic goods, LP gas cylinder, automobile products, and solar battery will also see a decrease in duty.
Others: Detergent, ICU equipment, sanitizer, medicines, hand operated agriculture equipment, mild steel sheet, soybean oil, raw materials of production based industry, shoes and sandals, cloths to produce shoes, locally produced potato chips, X-ray plate and medical equipment, compressor raw material, petroleum goods, textile fabrics, garlic, sugar, mustard oil, solar goods, lubricants, disinfectant spraying machine will see reduced duty.
