In her approx 1 hour and 30 minutes long speech, FM announced a few changes in the custom duties, which would impact the pocket of a common man. While numerous common-use items will see a price hike due to the same, some other products will get cheaper.
Here's a list of imported items set to get expensive:
Single or multiple loudspeakers
Headphones and earphones
Umbrella
Imitation Jewellery
Smart meters
Solar cells
Solar modules
X-ray machines
Parts of electronic toys
Also Read - Budget 2022-23 Major Key Highlights
Seeing a cut in the customs duty, the following items will see a reduction in their prices:
Clothes
Mobile phone chargers
Frozen mussels
Frozen squids
Asafoetida
Cocoa beans
Methyl alcohol
Acetic acid
Cut and polished diamonds
Camera lens for cellular mobile phone
Among other announcements for the common man, Sitharaman gave a slight relief to the taxpayers, indicating that they can file updated return within 2 years from the end of the relevant assessment year.
However, in a setback for crypto traders, the government has decided to levy a 30 per cent tax on any income from the transfer of virtual digital assets.
The Centre will also introduce 400 new Vande Bharat trains in the next 3 years. The spectrum auctions for 5G services will be held in 2023. Sitharaman also announced e-passports with “futuristic technology” in the Budget.
