Budget 2022: Duty on umbrellas increased to 20 per cent
Finance Minister Nirmala Sitharaman in her Union Budget 2022 speech announced several changes in customs duty which, in turn, will affect the prices of various commodities. While the concession in customs duty levied on mobile phone parts and other electronics will mean a reduction in their prices, cut and polished diamonds and other gems are also going to be cheaper. At the same time, a commodity is bound to become more expensive. The duty on umbrellas is being raised to 20 percent, which means umbrellas – life savers in the sun and rain – are all set to get expensive.
The move to increase duty on umbrellas left social media users surprised and happy. Take a look at some of the responses to “Umbrella Tax”:
The highlight of the budget was the 20% duty hike on umbrellas ????????#Budget2022#budget session2022
— iSyMPlify Markets (@IsymplifyM) 1 February 2022
Shameful budget. Nothing for the middle class. Tax on umbrella? Really???
— MK (@khan_majidreal) 1 February 2022
What is the total business of Umbrella in India?
What is the reason for increase in tax on umbrella? #budget session2022
— Zafarullah Sattar Khan | Taxation (@ZafarullaSkhan) 1 February 2022
It seems that this is not a lucrative budget overall, the middle class cannot even hide itself under the umbrella as it will get costly too!
— TheTalentguy (@shankar_raman) 1 February 2022
Many noted that umbrellas are becoming more expensive at a time when customs duty on cut and polished diamonds and gems is being reduced to 5 percent. The irony was not lost on Twitter.
Reduced customs duty on diamond jewelery (for the rich), while increased tax on umbrellas, agricultural machinery (used by common people)
reflects the priority of this government #budget2020
— Agnivo Niyogi (অগ্নিভ ী) (@Aagan86) 1 February 2022
Of course tax exemption for diamond but higher tax for umbrella ???????????
– ️гค๓๒lครรﻮยץ❣️ ???????? (@blassram) 1 February 2022
Buying a diamond is easy, necessarily good. Why do we need an umbrella when we are traveling in a car, you know????
— boya madhi (@bowya8) 1 February 2022
Some managed to find humor in the situation
Diamond is cheap and umbrella expensive, why rain sometimes comes and diamonds are forever.
— sanam sutirath wazir (@sanamwazir) 1 February 2022
A slew 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 duty on imported parts, proposed by Finance Minister Nirmala Sitharaman. Union Budget for 2022-23.
However, imported cut and polished diamonds, frozen mussels, frozen squid, asafoetida, cocoa beans, methyl alcohol and acetic acid will become cheaper as a result of customs rationalization.
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