Bhubaneswar: Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2022 with variations in tax rates on import of different products making them cheaper or costlier.
As the customs duty on import of cut-diamonds and important chemicals like acidic acid and methanol have been reduced, the said items go cheaper. Further, with duty concessions given for the high growth of electronics items, they have gone cheaper.
Let’s take a look at items that got cheaper and costlier.
Items that got Cheaper:
Clothes
Gemstones and Diamonds
Imitation jewellery
Custom duties on chemicals needed for petroleum products
Steel scraps
Mobile phones
Mobile phone chargers
Items that got Costlier:
Duty on Umbrellas increased
Custom duty on imitation jewellery raised to discourage their imports
