India canceled the tolls of importing the battery parts of the electric and mobile vehicles

Indian Finance Minister Narmala Sitaraman announced the cancellation of imported tolls for four items of capital goods used in the production of electric cars and 4 pens of mobile batteries.

The purpose of this action is to boost domestic production and increase competitiveness. In his speech during the approval of the Financial Bill in the Lukes (Indian Parliament), Sitaraman emphasized the need for rationalization of tariffs to modify “reversal”, strengthen exports and support domestic producers.

The Indian government also eliminated a 5 % digital tax on online advertising. Sitaraman announced that the new income tax bill, which will replace the current law of year 2, will be reviewed at the next session of the legislative parliament.

He also noted that in the recently launched tax office, Indian citizens were encouraged to voluntarily declare the Rupea Corrence of Foreign Property and the Rupea Corrence of Foreign Revenue.