- Direct Tax Proposals:
- The text does not explicitly list direct tax proposals in this section.
- However, it mentions “Unleashing the potential” which includes reducing compliances and decriminalizing legal provisions.
- Indirect Tax Proposals:
- Aimed to promote exports, boost domestic manufacturing, enhance domestic value addition, encourage green energy and mobility.
- Reduce number of basic customs duty rates from 21 to 13.
- Customs duty exemption for capital goods/machinery for lithium-ion cells (EV batteries).
- Concessional duty on lithium-ion cells for batteries for another year.
- Reduce basic customs duty on parts of open cells of TV panels to 2.5%.
- Reduce duty on key inputs for domestic manufacture of shrimp feed.
- Reduce basic customs duty on seeds for Lab Grown Diamonds (LGDs).
- Revise National Calamity Contingent Duty (NCCD) on specified cigarettes upwards by 16%.