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Union Budget: Finance Ministry Invites Suggestions On Taxation From Industry And Trade Bodies – Union Budget 2022-23

Business Desk, Amar Ujala, New Delhi

Published by: Mukesh Kumar Jha
Updated Sat, 06 Nov 2021 10:30 PM IST

Summary

Industry organizations will also have to explain with their suggestions why they are needed financially. Suggestions can be sent to the ministry by 15 November 2021.

The Finance Ministry has sought suggestions on taxation from industries and trade bodies for the Union Budget for 2022-23. “Your suggestions and views should mention production, prices, revenue impact of the suggested changes and relevant statistical information to support your proposal,” the ministry said.

In a letter sent to trade and industry associations, the ministry has invited suggestions regarding changes in the duty structure of both direct and indirect taxes, rates and broadening the tax base. Suggestions can be sent to the ministry by 15 November 2021. Industry organizations will also have to explain with their suggestions why they are needed financially.

In fact, 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. The general budget will be going to decide the direction of growth of the economy of India affected by the corona epidemic.

Union Budget 2022-23 will be presented in Parliament on 1 February 2022. In the Modi government, the then Finance Minister Arun Jaitley presented the budget for the first time on 1 February 2017. Since then, the general budget was presented on February 1.

Expansion

The Finance Ministry has sought suggestions on taxation from industries and trade bodies for the Union Budget for 2022-23. “Your suggestions and views should mention production, prices, revenue impact of the suggested changes and relevant statistical information to support your proposal,” the ministry said.

In a letter sent to trade and industry associations, the ministry has invited suggestions regarding changes in the duty structure of both direct and indirect taxes, rates and broadening the tax base. Suggestions can be sent to the ministry by 15 November 2021. Industry organizations will also have to explain with their suggestions why they are needed financially.

In fact, 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. The general budget will determine the direction of growth of the economy of India affected by the corona epidemic.

Union Budget 2022-23 will be presented in Parliament on 1 February 2022. In the Modi government, the then Finance Minister Arun Jaitley presented the budget for the first time on 1 February 2017. Since then, the general budget was presented on February 1.

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