PXL/HO/Cir-099/2021-22                                                                                      Date: 12.11.2021

Hyderabad

Dear Sir/Madam,

Subject: IMPORTANT: Inviting inputs for pre-budget proposals for the year 2022-23

We would like to bring to the notice of member companies that the Ministry of Commerce and Industry is inviting pre-budget proposals for the year 2022-23 on the following areas,

The focus of proposals should be on:

        i.            Suggestions for duty exemptions/ reduction in custom duties HS code wise

      ii.            Inverted duty structure

    iii.            Corporate tax/direct tax related issues

     iv.            Measures to enhance competitiveness; etc. 

Pharmexcil has recently flagged the issues of weighted tax deduction, Inverted Duty Structure, GST credit on expired medicines, CSR expenditure as business expenses with the Commerce Ministry.

We request member companies to kindly take time and provide inputs in the google form as this is an opportunity for retaining the existing custom duty exemptions/reducing the customs duty for pharmaceutical products and also represent on various tax related issues faced by the pharmaceutical industry.

The proposed suggestions should be supported by reasons/ justifications and should also include the revenue implications, if any, and the likely impact on exports in the google form.

Click here for submitting your responses through google form by 15.Nov.2021

The Ministry of Commerce & Industry is actively pursuing the issues with the Ministry of Finance for consideration of suggestions from the industry. We therefore request member companies to actively contribute to the Pre-budget proposals.

With regards,

Uday Bhaskar
Director General