Centre revises customs duty on several items
The tariff changes will come into effect from May 1, 2022, as per the Finance Bill 2022-23
image for illustrative purpose
New Delhi: There have been a host of changes in customs duty on several items in the Union Budget for 2022-23. This would mean that imports become more expensive or cheaper usually depending on the change in customs duties.
On the customs duties that have gone up, in the edible oils category, microbial fats and oils and their fractions have gone up from 30 per cent to 100 per cent, umbrellas has gone up from 10 per cent to 20 per cent, single or multiple loudspeakers has gone up from 15 per cent to 20 per cent, headphones and earphones, whether or not combined with a microphone, and sets consisting of a microphone and one or more loudspeaker has also gone up from 15 per cent to 20 per cent.
