Budget 2024: Mobile phones, silver ornaments, solar panels set to become cheaper 

What is cheaper and costlier: After a Basic Customs Duty (BCD) on mobile phones, mobile chargers to 15 percent as announced by the Finance Minister Nirmala Sitharaman in her Budget speech on Tuesday, mobile phones are expected to become cheaper. Stating that there has been a huge boost to mobile phone production in the country, with almost a five-fold increase in production and 100 per cent increase in their exports, the basic custom duty on mobile phones  stands reduced. 

The customs duty on gold and silver has also been reduced to 6 percent and platinum to 6.4 percent, said the Finance Minister. Three cancer treatment medicines have been exempted from Basic Customs Duty.

The Finance Minister also proposed a list of exempted capital goods used in the manufacturing of solar panels.  Reduction in tax deducted at source (TDS) rate on e-commerce from 1 per cent to 0.1 per cent has also been announced by the Finance Minister in her Budget speech.  Besides, basic customs duty on ferronickel, blister copper have been removed.

(Source: Republicbiz)