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Why Imported Phones May Become Cheaper After Union Budget
Finance Minister Nirmala Sitharaman has slashed customs duty on mobile phones and their components, a move that could see a reduction in prices of imported handsets
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Union Budget 2024: No Tax Relief for Crypto Sector, Industry Takes Respite in Angel Tax Abolishment
The Union Budget that was unveiled on Tuesday without any reduction in one percent TDS on all crypto transactions that has been requested by the crypto industry. Meanwhile, the Web3 community continues to vouch for patience and belief in the government for comprehensive industry-specific reforms in the future.
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Crypto Tax Compliance in India 'Very Low', Clearances Imperative to Gain Government's Trust: Taxnodes CEO
Avinash Shekhar, the CEO of Taxnodes has pointed out that crypto tax compliance in India has continued to be ‘very low’ since these taxes were levied back in 2022. He has reminded the community that discipline and compliance is the way to gain the government’s trust on India’s crypto circle.
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Petrol Pumps In Rajasthan Begin 2-Day Strike Demanding Tax Reduction
The Rajasthan Petrol Dealers Association has announced a "No Purchase, No Sale" strike starting at 6 am on Sunday for the next 48 hours with the aim of drawing the attention of the government to the high fuel prices in the state.
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CoinDCX Seeks Advice to Grow India’s Web3 Sector, Experts Call for Early Test Beds and Education
Sumit Gupta, the CEO of CoinDCX has asked crypto enthusiasts to reach out with issue-solving ideas that could help expand the Web3 ecosystem in the country. People from India’s crypto industry have reacted positively to this initiave and have listed some urgent changes that could help the Web3 sector to explode to its potential in the country.
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India’s Crypto Industry Misses Mention in FM’s Budget 2024 Speech, No Change in Taxes
Since last week, #ReduceCryptoTax has been trending on X in India with thousands of posts demanding a revision in India’s crypto tax policy. Despite the outcry, India's Finance Minister Nirmala Sitharaman did not even mention the crypto sector in the interim budget speech she presented in the parliament on Thursday, February 1.
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India Cuts Import Tax On Smartphone Parts: Will Handset Prices Drop?
In a bid to strengthen its position as a global smartphone manufacturing hub, India has reduced import duty on key components used in mobile phone production.
-
Petrol Pumps In Rajasthan Begin Indefinite Strike Demanding Tax Reduction
Petrol filling stations across Rajasthan, barring privately-owned and operated pumps, began an indefinite strike from 6 am today, demanding a reduction in Value-Added Tax (VAT) on petrol and diesel.
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Lamborghini Plans to Deploy Hybrid Technology Models in India by 2024-End
Italian automaker Automobili Lamborghini plans to deploy hybrid technology in its models in India by the end of 2024 as the Italian super sports car maker aims to halve the emissions from its cars in the coming years, according to a top company executive. The niche player also expressed confidence that the country's taxation policy remains consiste...
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Budget 2023: TVs Made in India to Get Cheaper by Up to Rs. 3,000 After Tax Cuts on Imported Parts
Finance minister Nirmala Sitharaman, during her presentation of the Union Budget for 2023-24 on Wednesday, announced reduction in basic customs duty (BCD) on imported parts of TVs to 2.5 percent from five percent. Locally manufactured television sets could thus become cheaper by up to Rs 3,000
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COAI Seeks Reduction in Licence Fee to 1 Percent, Waiver in Customs Duty for 5G Network Equipment
Cellular Operators' Association of India (COAI)has urged the government for rationalisation of GST, reduce of licence fee to 1 percent from 3 percent and sought a waiver of customs duty on network equipment for the 5G rollout. During the pre-Budget discussions, the telecom operators' body also sought the removal of GST on the licence fee, spectrum ...
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Hyundai Set to Launch $5.5 Billion US EV Plant as Inflation Reduction Act Dims Sales Outlook
Hyundai on Tuesday will break ground on a new $5.5 billion (roughly Rs. 45,500 crore) electric vehicle (EV) and battery plant in the US, ahead of the company's plans to begin commercial production in the first half of 2025 in the massive plant in Bryan county, west of Savannah. The event comes at a time when South Korea and the European Union are a...
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Gujarat Cuts VAT On CNG, Piped Cooking Gas Prices By 10% Ahead Of Polls
The Gujarat government announced a reduction in VAT (Value Added Tax) on CNG and PNG by 10% and said two cooking gas cylinders will be given free every year to 38 lakh beneficiaries who have got gas connections under the Centre's Ujjwala scheme.
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EU Electric Car Makers May Soon Have Level Playing Field With US EV Manufacturers For Subsidies: Details
European Union officials are expected to reach an agreement with their US counterparts as the bloc aims to get the same status as US car makers for EV manufacturers in the EU. The US Inflation Reduction Act offers government tax breaks or subsidies for purchases of electric cars but makes such support conditional on the car, or parts of it, being m...
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US Inflation Reduction Act Could Help Cut Chinese Battery Metals Ties: Details
The US Inflation Reduction Act (IRA) is set to be signed into law by US President Joe Biden today. The law that is designed to increase green investment, comes at a price. It extends and expands the existing electric vehicle (EV) subsidy of up to $7,500 (roughly Rs. 5,94,800) but conditions the tax credit on the sourcing of the mineral content of...
-
Why Imported Phones May Become Cheaper After Union Budget
Finance Minister Nirmala Sitharaman has slashed customs duty on mobile phones and their components, a move that could see a reduction in prices of imported handsets
-
Union Budget 2024: No Tax Relief for Crypto Sector, Industry Takes Respite in Angel Tax Abolishment
The Union Budget that was unveiled on Tuesday without any reduction in one percent TDS on all crypto transactions that has been requested by the crypto industry. Meanwhile, the Web3 community continues to vouch for patience and belief in the government for comprehensive industry-specific reforms in the future.
-
Crypto Tax Compliance in India 'Very Low', Clearances Imperative to Gain Government's Trust: Taxnodes CEO
Avinash Shekhar, the CEO of Taxnodes has pointed out that crypto tax compliance in India has continued to be ‘very low’ since these taxes were levied back in 2022. He has reminded the community that discipline and compliance is the way to gain the government’s trust on India’s crypto circle.
-
Petrol Pumps In Rajasthan Begin 2-Day Strike Demanding Tax Reduction
The Rajasthan Petrol Dealers Association has announced a "No Purchase, No Sale" strike starting at 6 am on Sunday for the next 48 hours with the aim of drawing the attention of the government to the high fuel prices in the state.
-
CoinDCX Seeks Advice to Grow India’s Web3 Sector, Experts Call for Early Test Beds and Education
Sumit Gupta, the CEO of CoinDCX has asked crypto enthusiasts to reach out with issue-solving ideas that could help expand the Web3 ecosystem in the country. People from India’s crypto industry have reacted positively to this initiave and have listed some urgent changes that could help the Web3 sector to explode to its potential in the country.
-
India’s Crypto Industry Misses Mention in FM’s Budget 2024 Speech, No Change in Taxes
Since last week, #ReduceCryptoTax has been trending on X in India with thousands of posts demanding a revision in India’s crypto tax policy. Despite the outcry, India's Finance Minister Nirmala Sitharaman did not even mention the crypto sector in the interim budget speech she presented in the parliament on Thursday, February 1.
-
India Cuts Import Tax On Smartphone Parts: Will Handset Prices Drop?
In a bid to strengthen its position as a global smartphone manufacturing hub, India has reduced import duty on key components used in mobile phone production.
-
Petrol Pumps In Rajasthan Begin Indefinite Strike Demanding Tax Reduction
Petrol filling stations across Rajasthan, barring privately-owned and operated pumps, began an indefinite strike from 6 am today, demanding a reduction in Value-Added Tax (VAT) on petrol and diesel.
-
Lamborghini Plans to Deploy Hybrid Technology Models in India by 2024-End
Italian automaker Automobili Lamborghini plans to deploy hybrid technology in its models in India by the end of 2024 as the Italian super sports car maker aims to halve the emissions from its cars in the coming years, according to a top company executive. The niche player also expressed confidence that the country's taxation policy remains consiste...
-
Budget 2023: TVs Made in India to Get Cheaper by Up to Rs. 3,000 After Tax Cuts on Imported Parts
Finance minister Nirmala Sitharaman, during her presentation of the Union Budget for 2023-24 on Wednesday, announced reduction in basic customs duty (BCD) on imported parts of TVs to 2.5 percent from five percent. Locally manufactured television sets could thus become cheaper by up to Rs 3,000
-
COAI Seeks Reduction in Licence Fee to 1 Percent, Waiver in Customs Duty for 5G Network Equipment
Cellular Operators' Association of India (COAI)has urged the government for rationalisation of GST, reduce of licence fee to 1 percent from 3 percent and sought a waiver of customs duty on network equipment for the 5G rollout. During the pre-Budget discussions, the telecom operators' body also sought the removal of GST on the licence fee, spectrum ...
-
Hyundai Set to Launch $5.5 Billion US EV Plant as Inflation Reduction Act Dims Sales Outlook
Hyundai on Tuesday will break ground on a new $5.5 billion (roughly Rs. 45,500 crore) electric vehicle (EV) and battery plant in the US, ahead of the company's plans to begin commercial production in the first half of 2025 in the massive plant in Bryan county, west of Savannah. The event comes at a time when South Korea and the European Union are a...
-
Gujarat Cuts VAT On CNG, Piped Cooking Gas Prices By 10% Ahead Of Polls
The Gujarat government announced a reduction in VAT (Value Added Tax) on CNG and PNG by 10% and said two cooking gas cylinders will be given free every year to 38 lakh beneficiaries who have got gas connections under the Centre's Ujjwala scheme.
-
EU Electric Car Makers May Soon Have Level Playing Field With US EV Manufacturers For Subsidies: Details
European Union officials are expected to reach an agreement with their US counterparts as the bloc aims to get the same status as US car makers for EV manufacturers in the EU. The US Inflation Reduction Act offers government tax breaks or subsidies for purchases of electric cars but makes such support conditional on the car, or parts of it, being m...
-
US Inflation Reduction Act Could Help Cut Chinese Battery Metals Ties: Details
The US Inflation Reduction Act (IRA) is set to be signed into law by US President Joe Biden today. The law that is designed to increase green investment, comes at a price. It extends and expands the existing electric vehicle (EV) subsidy of up to $7,500 (roughly Rs. 5,94,800) but conditions the tax credit on the sourcing of the mineral content of...
