New Delhi: Finance minister Nirmala Sitharaman on Tuesday presented the Union Budget for the fiscal year beginning April.
While import duty on certain chemicals has been reduced, duty on umbrellas has been raised to 20%.
The finance minister announced an extension of the exemption on implements and tools for the agriculture sector manufactured in India.
As proposed by the finance minister in the Union Budget for 2022-23, a large number of commonly used items, including mobile phones and mobile phone chargers, are set to become cheaper.
CHEAPER
– Clothes
– Gem stones and diamonds
– Imitation jewellery
– Mobile phones
– Mobile phone chargers
– Custom duties on chemicals needed for petroleum products
– Custom duties on certain chemicals, including methanol
– Concessional customs duty on steel scrap extended for 1 year
COSTLIER
– All imported items
– Duty on umbrellas is being raised to 20 per cent.
