BUDGET 2022-2023 // FINANCE MINISTRY // SEE WHAT GET CHEAPER AND EXPENSIVE

BUDGET 2022-2023 by Financial Ministry

 India budget released by financial ministry on 01/feb. What get cheaper and expensive?

[Financial year starts from 1 april to march 31.]

 >>>Custom dutiy on cut and  polished diamond and gemstones have been reduced to 5% .

>>>A large no. of commonly used items including HEAD PHONES , EARPHONES , LOUDSPEAKERS, SMART WATCHES, SMART METERS , IMITATION JELLEWARY, SOLAR CELLS , UMBRELLAS, UNBLENDED PETROL AND DISEL, will becomes more expensive due to a hike in custom duties on imported parts.

>> DISEL AND PETROLcould get more expensive as unblended fuel will attracts an additional differential excise duty of Rs 2/lt from 1 oct-2022.

>>> CLOTHES ,GEM STONES & DIAMOND ,CAMERA LENS ,WEARABLE TECH LIKES HEARING AIDS , FARMING TOOLS , CHEMICALS FOR PETROLEUM, COCOCA BEANS , METHYAL ALCHOL, ACETIC ACIDS STEEL SCRAPS will become cheaper.

Important terms used in above article :-

1. costum duty :Customs Duty is a tax imposed on imports and exports of goods. ... While revenue is a paramount consideration, Customs duties may also be levied to protect the domestic industry from foreign competition.

2. Financial year: The financial year is the calendar year in which you received your money. It begins on April 1st of each calendar year and ends on March 31st of the next calendar year. ... Any money earned by you from April 1, 2020, to March 31, 2021, is simply referred to as income earned in Financial Year (FY) 2020-21.

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