Budget 2018 Implications

[Nikhil]

So Import Duties have gone up by 7% and so have exchange rates.
Euro has now gone up to 80.20

The frustrating thing is that tax increases are in effect the next day of the budget (Feb 2nd).
But rebates and reductions on Income Tax are effective April 1st.

Will there ever be an end to our misery?

.

 

[elangoas]

So Import Duties have gone up by 7% and so have exchange rates.
Euro has now gone up to 80.20

Hmmm.. More to worry abt pricing..

The frustrating thing is that tax increases are in effect the next day of the budget (Feb 2nd).
But rebates and reductions on Income Tax are effective April 1st.

Will there ever be an end to our misery?

Good one.. Guess the govt wants to cash in on the opportunity for a short time..

 

[heliumflight]

I guess it is good for used hifi gear

 

[Nikhil]

I guess it is good for used hifi gear

That's one angle i.e. new gear is going to be expensive.

But the point is that we are being completely overtaxed for our purchases.
Sellers are forced to pass on the increases in tax to the customer.
We have no place to go so some look for direct imports and now here also there is an increase.

Not a very good time to be an end user ...

.

 

[gururanga]

Sales tax are high because only 2% of population pay incometax (approx), compared to 45% pay income tax in America. They pay tax and enjoy good time as end user.

We have to blame ourselves....only salaried pay income tax here....

 

[arj]

I guess it is good for used hifi gear

Why is that .. are used equipment allowed to be imported ?

 

[insane79]

Hmmm.. More to worry abt pricing..

Are the prices of audio gear already increased? on hifimart at least all the prices look same to me.

 

[Nikhil]

Prices are likely to go up everywhere. It will take time to reflect the increase.
All goods which have imported parts will be affected.

Regards.

.

 

[Hari Iyer]

DIY could be an option to consider where ever possible.