Request for Inputs for Pre Budget Memorandum for FY 2024-25 – reg.

 

Dear Sirs/Madam,

As you are aware that on Feb 1 2024, the then Union Finance Minister presented the Interim Union Budget 2024-25. After the formation of new Government in the Center, the newly appointed Union Finance Minister would now present the annual udget for financial year 2024-25.

As members are aware that CITI actively participates in the pre-budget consultation every year and represent the industry issues to the Government for their resolution.

CITI is in the process of compiling all such suggestions of the industry and in this regard requests for your inputs for the same.  The suggestions may include changes in relation to duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same.

The suggestions need to be put into two separate categories:

• Indirect Taxes [Customs & Central Excise for commodities outside GST)]
• Direct Taxes

Suggestions should 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 may be noted that GST related requests are not examined as part of Annual Budget.

You are kindly requested to share your suggestions in the attached format latest by 11^th June 2024 to enable CITI to collate and submit the budget proposal in time to the concerned department for their favourable consideration.

Thanking you,

Yours faithfully,

(Chandrima Chatterjee)

Secretary General