The Reserve Bank has advised investors to be cautious while investing in foreign currency. In particular, there is a caution against such unauthorized foreign exchange trading platforms, which have emerged in a big way in recent months and are promising high returns to the people. RBI has issued a statement saying that a lot of misleading advertisements of unauthorized ETP are coming on social media platforms, search engines, OTT platforms and gaming apps. Unauthorized trading platforms are luring people to make huge profits by personally contacting them and trading in forex. There are complaints of fraud, and those investing in them are losing their hard earned money. Transactions with Authorized Persons RBI has said that forex transactions can be done electronically in the country, but only through such electronic trading platforms as are authorized by the RBI for specific purposes. People should only transact in foreign currency with authorized persons. These transactions should also be done only for the purposes prescribed under the Foreign Exchange Management Act, 1999 (FEMA). "RBI cautions individuals not to carry out forex transactions on unauthorized ETPs (Electronic Trading Platforms)," the central bank statement said. Penalty may have to be paid The RBI statement said that transactions in foreign currency for purposes other than those specified under FEMA or through unauthorized ETP transactions may attract penalty under the provisions of the Foreign Exchange Act. Is. Guideline: Forex trading can be done only from RBI authorized trading platform Who are the Authorized Persons? These are the people or entities that have been permitted by RBI to deal in Forex. These can be authorized dealers, money changers or units of a foreign bank. Their list is on the RBI website. Can one transact in forex on an Indian trading portal? Yes, but only through authorized ETP for the purposes specified under FEMA. Apart from this, forex transactions can also be done through NSE, BSE and Metropolitan Stock Exchange of India. What are ETPs? Do they have to take permission from RBI? Electronic trading platforms are electronic systems other than stock exchanges where shares, money market instruments or foreign exchange can be traded. They cannot operate in India without taking permission from RBI.

 Tesla's planning for India entry has suffered a setback. The government has rejected Tesla's demand for exemption from import tax. Let us tell you that in the past, Tesla owner Elon Musk had asked a user on Twitter, when will Tesla be launched in India. In response to which Elon Musk had said that Tesla will enter India only after the decision on import tax is taken. On the other hand, Union Road Transport and Highways Minister Nitin Gadkari has already made it clear that, if Tesla wants tax exemption, then it will first have to set up Tesla's manufacturing plants in India.

The government gave this answer on Tesla's demand, the government has
rejected their demand saying that there is already a policy for this in India. Under this policy, auto companies have been allowed to import partially built vehicles into India and assemble them here at low import charges.

Vivek Johri, chairman, Central Board of Indirect Taxes and Customs, said, “We have considered whether there is a need for any change in duty. We found that some domestic production is happening and some investment has come on the existing tariff structure. So it is clear that there is no problem with the duty.

Currently , the Tesla Model 3 is priced at $39,990 (Rs 30 lakh) in the US, more than the import duty in India . But in India it will cost up to Rs 60 lakh with import duty. Which is too much. At present, import of cars worth more than Rs 30 lakhs in India attracts 100% tax including insurance, shipping cost. At the same time, import duty of up to 60% has to be paid for importing cars costing less than 30 lakhs.

Tesla is planning to launch Model 3
Tesla has registered its office in Panvel, Mumbai. The company was planning to launch its Model 3 electric car in India. At the same time, the company was planning to launch another electric car in India after this electric car.