Krishi Kalyan Cess @ 0.5% proposed to be levied, on any or all taxable services on the value of taxable services thereby making effective service tax rate at 15%, w.e.f. 1st June 2016.

Customs and/or BED rates reduced on inputs relating to IT hardware, capital goods, defense production, textiles,minerals fuels and mineral oils, chemicals, etc. w.e.f. 1st March,2016.

A new levy called Infrastructure Cess is being introduced in case of motor vehicles at 1% to 4% depending upon variant of the vehicle and type of fuel. w.e.f.1st March, 2016.

Basic Excise Duty on branded ready-made garments having retail sale price of Rs 1,000 or more is being increased to 2 per cent from NIL (without Cenvat credit) and to 12.5 per cent from 6 percent (with Cenvat credit) w.e.f. 1st March, 2016.

Basic Excise Duty of 1 per cent(without Cenvat credit) or 12.5 per cent (with Cenvat credit) is being levied on articles of Jewellery, w.e.f. 1st March, 2016.

Interest for delayed payment of tax duties rationalized across customs, excise and service at 15 per cent per annually.

No change in the peak rate of Basic Customs Duty @ 10%