FinMin invites suggestions on taxation from industry and trade bodies

The Finance Ministry has asked for suggestions on taxation from industries and trade bodies for Budget 2022-23, which is going to set the tone for growth of India’s economy hit by the COVID-19 pandemic. In a communication to trade and industry associations, the ministry invited suggestions for changes in the duty structure, rates, and broadening of tax base on both direct and indirect taxes giving economic justification for the same.
Suggestions may be sent to the ministry by November 15, 2021, it said. “Your suggestions and views may be supplemented and justified by relevant statistical information about production, prices, revenue implication of the changes suggested and any other information to support your proposal,” it said.