Budget 2024: Finance Ministry invites industry views on tax rates, litigation laws
6 months, 1 week ago

Budget 2024: Finance Ministry invites industry views on tax rates, litigation laws

Hindustan Times  

The Finance Ministry has invited suggestions on direct and indirect taxes and changes in laws to reduce compliances for the 2024-25 Budget from trade and industry associations. The suggestions could include changes in the duty structure, rates and ideas on broadening of tax base on both direct and indirect taxes giving economic justification for the same, as per the ministry. For changes in customs and excise duties, the trade and industry would have to supplement and justify their demand with relevant statistical information about production, prices, and revenue implication of the changes suggested. With regard to direct taxes, the ministry said the suggestions could be also on reducing compliances, providing tax certainty and reducing litigations.

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