F.No.334/1/2019-TRU
Government of India
Ministry of Finance
Department of Revenue
(Tax Research Unit)

Room No.156 North Block
New Delhi, dated the 22nd April, 2019

To

All Trade and Industry Associations

Subject: Suggestions from the Industry and Trade Associations for Budget 2019-20 regarding changes in direct and indirect taxes.

Sir/Madam,

In the context of formulating the proposals for the Union Budget of 2019-20, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may like to send your 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.

2. 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. 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. It would not be feasible to examine suggestions that are either not clearly explained or which are not supported by adequate justification / statistics.

3. Further, as regards direct taxes, while forwarding your proposals, please take into consideration the Budget announcement made in Union Budget 2015-16 to reduce the rate of Corporate Tax from 30% to 25%, along with rationalization and removal of various kinds of tax exemptions and incentives and the plan of phasing out exemptions and tax incentives laid before the Parliament with the Union Budget 2016-17. The Synopsis of your suggestions could be given in the following format:

S.No. Issue Justification

4. It may be noted that GST related requests are not examined as part of Annual Budget. Suggestions related to Customs and Central Excise may be forwarded in the following Performa:

S. Request Existing rate Requested rate Justification
No. of duty of duty

Besides, the additional information as prescribed in the Annexure-A enclosed herewith, may be provided.

6. Your suggestions and views may be emailed, as word document in the form of separate attachments, in respect of Indirect Taxes [Customs and Central Excise [for commodities outside GST)] to [email protected]and Direct Tax to [email protected]. Hard copies of the Pre-Budget proposals/ suggestions relating to Customs & Central Excise may be addressed to Shri G. D. Lohani, Joint Secretary (TRU-I), CBIC, while the suggestions relating to Direct Taxes may be addressed to Shri K. C. Varshney, Joint Secretary, Tax Policy and Legislation (TPL-I), CBDT. It would be appreciated if your views and suggestions reach us by the 10th May, 2019.

Yours sincerely,

(Mahipal Singh)
Budget Officer (TRU)
Tel: 011-2309 5547

ANNEXURE -A

S. No

 

 

HS Code

 

 

Descri-ption of the Product

 

Quantum of Imports 2016-17 and 2017-18

 

CIF value of imports 2016-17 and 2017-18

 

Quantum of domestic prod-uction 2016-17 and 2017-18
Value of domestic produ-ction 2016-17 and 2017- 18

 

Unit Price (CIF)

 

Existing Duty

 

 

Proposed Duty

 

 

Revenue Implic-ation of the proposal

 

Implic-ations of the proposal or the domestic industry

 

More Under Income Tax

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