Over the lunch, we guys could not help but wonder how complicated Indian Budget is.
After reading the budget, I was wondering what is the tax rate on Umbrella.
Honestly, the only correct answer is:
“It depends on who is asking.”
The tax rates depends on whether it was made by a big industry, cottage industry or a medium industry.
It depends on whether the umbrella was fold-able or not. If foldable, then how many folds does it have.
What fabric it was made from silk, polyester, plastic.
Was the cloth imported or domestic.
If domestic, then was it made in a hand loom, a power loom. By an Indian company or a MNC?
Were the components assembled in Mumbai (or developed regions where it rains) or some arid backward regions of Rajasthan?
The list goes on.
Why do Indians make everything so complicated?
Does it really help and serve its purpose?
I would have really helped if the Budget was a 2 page document
1st page is the balance sheet, explaining how, where and how much were the taxes collected and spend
2nd sheet: a simple addendum stating the difference from the last time.