FICCI Pre-Budget Memorandum 2021-22 Suggestions
Greetings from the Federation of Indian Chambers of Commerce & Industry (FICCI)!
Request for suggestions for Pre-Budget Memorandum 2021-22.
As shared earlier, we are in the process of compiling FICCI’s Pre-Budget Memorandum 2021-22. You are requested to send your valuable inputs and specific suggestions for inclusion in the memorandum. Suggestions may include changes with regard to the structure of duties and taxes, both Direct tax, Customs and Central Excise, with due economic justification.
As regards indirect taxes, proposals may be given suggesting modifications in the rates of duties with proper justification and relevant statistical information about production, imports, prices of the item involved, and revenue implications of the changes suggested. Suggestions regarding TDS may be submitted; however on GST may be avoided at this moment. The request for correction of inverted duty structure, if any for a commodity, should necessarily be supported by value addition at each stage of manufacturing of the commodity.
Suggestions for review of existing Customs Exemption Notifications/Laws and Procedures may also be provided.
Proposals may also be given for any major procedural changes or administrative reforms in the tax machinery for inclusion in the memorandum.
The following points may also be taken into consideration for drafting the suggestions:-
(a) Proposals should be brief and to the point and should be forwarded under following sub-headings:-
(i) Issue (ii) Suggestion (iii) Justification
(b) Suggestions should be given separately for Direct Taxes, Customs and Central Excise separately.
(c) The suggestions should be mailed electronically in MS Word format.
(d) Please provide contact details of persons who can be contacted for seeking clarifications, if needed, on the suggestions made.
Please submit your suggestions by 9th October (tomorrow) noon, the compiled data would then be submitted to the concerned ministry on 10thOctober 2020.
Request you to cc the suggestions firstname.lastname@example.org. Look forward to receiving your suggestions at the earliest.
Sports & Youth Affairs Department, FICCI
Senior Assistant Director – Sports & Youth Affairs
Federation of Indian Chambers of Commerce and Industry