Small Budget Presentation : Restaurant Meals, Bakery Items, Mobile Phones, Baby Milk Will Be Expensive Small budget came ......
Small Budget Presentation: Restaurant Meals, Bakery Items, Mobile Phones, Baby Milk Will Be Expensive
Small budget came ... Taxes brought taxes ... Seventeen percent additional tax will be levied on mobile phones. Tax exemption on zero rated items has also been abolished.
Iodized salt, red pepper will be taxed, imported milk, food and bakery items will be expensive.
Travel on expensive car will become more expensive. Advance tax of Rs. 100,000 on 1000 cccar, Rs. 200,000 up to 2000 cc car and Rs.
Entertainment will not be cheap either. TV dramas and advertisements will be taxed. In the mini budget, an advance tax of Rs 1 million is proposed per installment of foreign dramas. Foreign artist Colina will also be expensive in advertisements. Advertisements of foreign artists will be subject to advance tax of Rs. 500,000per second.
Service providers are also on the tax radar. A 5% tax is proposed on the services ofhealth clubs, gyms, indoor sports and massage centers. Car dealers and auto workshops will also have to pay taxes, otherwise the car will not run. Industrial machinery, wedding halls, catering and venue services will also be taxed at 5%.
The money budget also proposes to impose 5% tax on IT sector. Enough waves, now I have to contribute to the government treasury from the revenue coming from web design, hosting and network design.
It is proposed to levy 5% tax on call centers.
What's in a mini budget?
Themini-budget proposes to increase sales tax on about 150 items, which will generate additional revenue of over Rs. 343 billion.
Vehicles, medicines, double bread, restaurant food will be more expensive, bakery items, mobile phones, baby milk, canned yogurt, cheese, butter, cream, ghee, sweets and spices will also go up.
In addition, more taxes will be levied on imported newsprint, newspapers, magazines, cosmetics, books, sewing machines, imported live animals and poultry.
The mini-budget proposes to increase sales tax on about 150 items, raising the tax on mobile phones from 10 per cent to 15 per cent and raising an additional Rs 7 billion.
The tax on electric cars will be increased from 5% to 17%.
There will be no tax on oven-baked bread, bread and milk, locally sold rice, wheat and flour.
It is proposed to increase the advance tax on services of mobile phone companies from 10% to 15%. For the first time, 17% sales tax has been proposed on duty free shops.
It is proposed to increase the tax on machinery related to poultry sector from 7% to 17%, while the tax rate on silver and gold is proposed to be increased from 1% to 17%.
In addition,bakery, restaurants, food chains are proposing 17% GST on bread preparation while tax exemption on bread and chapatti on ordinary ovens will be maintained.
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