Like every year, Finance Minister AHM Mustafa Kamal recommended changes in value-added tax (VAT) or duties on several goods and services. This directly impacts the price of these products.
Generally, the change will come into effect from the day of announcing the budget.
Prices of these products may increase due to withdrawal of tax exemption and in some cases imposition of 7.5 percent to 25 percent tax and import duty and VAT.
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The products are ballpoint pens, plastic products, dates, goggles and sunglasses, all kinds of tissue, mobile phone set, gas cylinders, cement, bricks, cigarettes, liquid nicotine, basmati rice, cashews nut, glue, foreign software, foreign lift and escalators, bicycle and foreign sandwich panel, land, and flat registration.
The prices of sweets and sweet-related products may come down in the proposed budget for the 2023-24 fiscal year.
Besides, handmade biscuits, cakes, baby diapers and pads, local eclectic bulbs, switches, meat, and meat-related products, delivery charges of e-commerce, and aristocratic foreign clothes may also see prices go down.