Union budget 2018: Finance Minister Arun Jaitley on Thursday announced a hike in customs duty on mobile phones to 20 per cent from 15 per cent a move that will force foreign players to pass on the burden to consumers. “Customs duty on import of mobile phone parts will be increased to 20 per cent from the existing 15 per cent. This will boost jobs in the smartphone sector in India,” Jaitley said during his Union Budget speech.Not only mobile phones other things will also burn a hole in your pocket like, the customs duty on fruit and vegetable juices has been revised to 50% from the existing 30%. Customs duty on orange juice will go up from 30% to 35% while on cranberry juice the tax will go up massively to 50% from the current rate of 10%.Also, cosmetics, gems & jewelry, footwear, furniture, toys & games are going to cost more. To a great surprise customs duties on seats and parts of seats [except aircraft seats and parts thereof], other furniture and parts, mattresses has been doubled to 20%.
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