Union Budget 2022: 23 Here's What Got Cheaper And More Expensive

The Union Finance Minister announced a host of changes on import duties, which results in some items becoming cheaper. For example, duty was reduced on cut polished diamonds thus making them cheaper.

Here are a few things that would become costlier with tax becoming applicable from April 1, 2022.

A large number of commonly used items, including headphones, earphones, loudspeakers, smart meters, imitation jewellery, solar cells and solar modules will become more expensive due to a hike in customs duties on imported parts, as proposed by Finance Minister Nirmala Sitharaman in the Union Budget for 2022-23.

What becomes cheaper after Union Budget 2022-23?

However, imported cut and polished diamonds, frozen mussels, frozen squids, asafoetida, cocoa beans, methyl alcohol and acetic acid will become cheaper as a result of rationalisation in customs duties.

Following is a list of imported items that will become costlier:

Umbrella -Imitation Jewellery -Single or multiple loudspeakers -Headphones and earphones -Smart meters -Solar cells -Solar modules -X-ray machines -Parts of electronic toys

However, certain goods will become cheaper as the government has slashed the customs duty and they are:-

Frozen mussels -Frozen squids -Asafoetida -Cocoa beans -Methyl alcohol -Acetic acid -Cut and polished diamonds -Camera lens for cellular mobile phone.

With inputs from PTI