PXL/HO/Cir-045/2023-24 Date: 26.08.2023
Subject: IMPORTANT: Inviting inputs for pre-budget proposals for the year 2024-25
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 2024-25.
Member companies are requested 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/Income tax/Central Excise for pharmaceutical products and also represent on various tax related issues faced by the pharmaceutical industry.
The budget proposals related to duties/taxes should be complete in all respects, properly categorized and HS codes for each commodity must be provided. 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.
The Proforma received from the Department is also sharedfor more information. Click herefor submitting your responses through google formby 05.Sep.2023.
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.