Products that will reduce prices

The cabinet has approved a budget of Tk 6 lakh 3 thousand Tk 681 crore for the fiscal year 2021-2022. The size of the budget for the fiscal year 2021-22 is Tk 6 lakh 3 thousand 681 crore. Finance Minister AHM Mustafa Kamal presented the budget proposal in Parliament on Thursday.

In this year’s budget, VAT, import duty, advance tax or supplementary duty on some products have been waived. As a result, the prices of these products may go down.

Sanitary Napkins: In the budget of the financial year 2021-2022, the total value added tax (VAT / VAT) of napkins produced in the country has been exempted. Besides, VAT exemption facility on import of raw materials has been extended for two years. Therefore, the price of sanitary napkins can be reduced.

Dialysis Tubes: The tax on blood tubing sets used in dialysis services has been reduced.

Corona Kit: The duty exemption facility on protective equipment was already there. This time duty exemption has been given on the import of raw material for making RT-PCR kit for corona detection.

Toilet Pan: The supplementary duty on long pan produced in the country has been lifted to increase the sanitation facilities of the rural people. It had a 10 percent supplementary duty.

Autism Services: VAT is exempt on this service. VAT exemption on meditation services has been extended for one year.

Steel: Specific duty on steel has been reduced from Tk 1,500 per tonne to Tk 500.

Poultry / fish meal: Concession has been given for import of ingredients. This will create opportunities to reduce the price of chicken, fish and cattle feed.

Cancer drugs: The government has again given duty exemption on raw materials for the production of cancer drugs. This will reduce the cost of producing cancer drugs. Apart from this, some other raw materials of the pharmaceutical industry have also been given duty exemption.

Medical Devices: Concessions have been given on the import of materials for the production of several medical devices.

Domestic LPG cylinders: The country has been given concessional facilities for the import of raw materials for the production of LPG cylinders.

Sunbd/NJ