The government has notified that the revised CESS tax is in effect as of yesterday (15).
Importers stated that the price of 637 goods under the 187 HS code will increase.
Accordingly, the price of imported rice, potatoes, lentils, onions, palm oil, butter, cheese, milk, books, pens, shoes, spreads, tires and other items will increase.
According to the 2023 Budget presented in Parliament on Monday (14) by President Ranil Wickremesinghe in his capacity as Minister of Finance, the Customs was informed to issue a Gazette Notification revising the Value Added Tax or VAT.
The CESS tax will see an increase of Rs.60 per kilogram of imported rice, Rs.30 per kilogram of onions, Rs.220 per kilogram of potatoes, Rs.300 per kilogram of gram, Rs.550 per kilogram of butter and Rs.600 per kilogram of cheese.
Meanwhile, imported maize has been increased by Rs.300, apple by Rs.380, palm oil by Rs.60, and copra by Rs.370.
In addition, imported rubber and tires will increase from between Rs.100-Rs.400, while footwear will increase by between Rs.90-Rs.1,840, and the price of ballpoint pens will increase by 25%.
Furthermore, the tax on a kilogram of exercise books will increase by Rs.250, a kilogram of spreads by Rs.200, and a kilogram of lubricant oil by Rs.300.