Finance Minister AHM Mustafa Kamal has proposed a budget of Tk 7 lakh 61 thousand 785 crore in Parliament for the financial year 2023-24. In the proposed budget, the prices of several products including cigarettes, country-made mobile phones, soap and plastic items have been priced.
The Finance Minister presented the budget in the Parliament at 3 pm on Thursday (June 1).
The proposed budget has proposed to impose 150 per cent supplementary duty against liquid nicotine, which is proposed to impose 212.20 percent duty on the import of e-cigarettes and vapors and its parts.
Besides, 15 percent VAT on ball posit pen, software 5 percent on production and customization services, 5 percent on import duty of software and 15 percent VAT on import of all types of plastic products (except tiffin boxes and water bottles), LPG cylinders are proposed. It is proposed to set the 5 percent cost of steel, plastic and metal framed sunglasses, aluminium and aluminium kitchens or other household items, sanitatories and parts instead of 5 percent.
The import duty of bicycle parts is proposed to be increased by 10 to 15 percent. This is the case for multiple villages and the finance minister has proposed to impose CC or KILOT-based environment surcharge for more than 10 to 15 percent.
This small tissue The VAT of national products is being increased to 7.5 percent instead of 5 percent, while the regulatory duty of imported soap and detergent powder has been proposed to be 3 to 20 percent in the budget.
On this day, the finance minister proposed to increase the tax of cashew nuts in the parliament from 15.25 percent to 43 percent. At the same time, it is proposed to impose 15 percent VAT on the import of non-fortified basmati rice. In addition, it has been proposed to impose a 20 percent supplementary duty on import of 25 percent.
Prices in the country It is proposed to issue 5 percent to 15 percent of the import duty of elevator from 5 percent to 15 percent.
The specific rate of duty per ton of imported cement clinker has been proposed to be Rs 500 to Rs 700. For commercial importers, it is being increased from Rs 750 to Rs 950.
It should be noted that the budget for the fiscal year 2023-24 will be passed on June 26. Before that, the financial bill for the fiscal year 25 will be passed on June 25. The budget will be effective from July 1.
