The Finance minister, Mr. Arun Jaitley has already announced his budget for the year 2016-2017 with a multitude alteration in the tax structure.
15 per cent excise duty has been levied on tobacco products. Additional Krishi Kalyan and Infrastructure cess has also been levied on all the services which thereby will make restaurant bills and air travel expenses dearer.
Some of the items that will be expensive this year:
- All Services like restaurant bills, air travel, legal service etc.
- E- Reading devices.
- Gold bars.
- Imported golf cars.
- Branded apparel.
Some of the items that will be cheaper this year:
- Pension plans.
- Routers, CCTV cameras, set top box.
- Microwave oven.
- Insurance schemes.
- Solar lamp.