Prices of some goods to go down according to new budget
Finance Minister AHM Mustafa Kamal has proposed reduction of VAT, import duty, advanced tax and supplementary duty of some goods in the proposed national budget of 2021-22. So, the prices of these good are likely to go down.
Besides, prices of raw materials for producing Covid-19 test kits, PPEs and raw materials and vaccines have been proposed to be lowered.
Moreover, VAT has been exempted at the production levels of locally made refrigerators, freezers, automobile spare parts, blender, juice maker, mixer, grinder, electric ketley, rice cooker, multi cooker, pressure cooker. As a result, prices of these home appliances and other electric goods are likely to go down.
VAT has also been exempted at the production level of locally manufactured washing machine, microwave ovens and electric ovens. So, the prices of these appliances will fall in the market.