The Finance Ministry has sought suggestions on taxation from the industry and traders’ body for the Budget 2022-23.
New Delhi. The Finance Ministry has sought suggestions on taxation from the industry and traders’ body for the Budget 2022-23. The general budget will determine the direction of growth of India’s economy affected by the Covid-19 epidemic.
In a letter to the trade and industry association, the ministry has invited suggestions regarding changes in the fee structure of both direct and indirect taxes, rates and broadening the tax base. The industry association will also have to explain with its suggestions why they are needed financially.
November 15 is the last date
suggestions can be sent to the ministry till November 15, 2021. “Your suggestions and ideas should mention production, prices, revenue impact of the suggested changes and relevant statistical information to support your proposal,” the ministry said.
Budget may be presented in Parliament on February 1
The budget for 2022-23 is expected to be presented in Parliament on February 1 next year. This will be the fourth budget of the Modi 2.0 government and Finance Minister Nirmala Sitharaman.
