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Union Minister proposes taxes for importing Tunnel Boring Machines and parts to India
In her speech over Union Budget 2021-22 in Parliament a few days ago, the Union Minister for Finance and Corporate Affairs Nirmala Sitharaman proposed to withdraw customs tax exemptions for Tunnel Boring Machines (TBM) in import to India.
Minister proposed 7.5% tax for TBM and 2.5% tax for parts and spares of TBMs.
cover tunnel photo by: Matt Brown from London, England / CC BY
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