ENA Economy 2024-09-24 17:12:58 <p><span style="font-size:14px"><strong>New Delhi, Sep 24 (KNN)</strong> The Department for Promotion of Industry and Internal Trade (DPIIT) has officially commenced its annual process to formulate proposals for the upcoming Union Budget 2025-26.</span></p> <p><span style="font-size:14px">Stakeholders are encouraged to provide inputs related to specific HSN codes to enhance the growth and development of domestic manufacturing in India.</span></p> <p><span style="font-size:14px">These submissions should adhere to the format outlined, ensuring a streamlined approach to gathering valuable insights. The format link can be accessed <u><a href="https://fisme.org.in/wp-content/uploads/2024/09/Budget_Association_Reg.pdf">here</a>.</u></span></p> <p><span style="font-size:14px">Proposals must be submitted to the DPIIT by October 10, 2024, in soft copy format to the designated email addresses: <a href="mailto:tfpd-oea@gov.in">tfpd-oea@gov.in</a> and <a href="mailto:grishma.goyal@gov.in">grishma.goyal@gov.in</a>.</span></p> <p><span style="font-size:14px">The DPIIT highlights the significance of stakeholder consultations, engaging with officials from relevant divisions and industry associations to finalise proposals for submission to the Ministry of Finance.</span></p> <p><span style="font-size:14px">The Office of the Economic Adviser plays a crucial role in this exercise, closely examining the implications of indirect taxes and the existing inverted duty structure, which can hinder the competitiveness of local industries.</span></p> <p><span style="font-size:14px">This initiative is a critical step in shaping Indias economic landscape, addressing key issues such as indirect taxes, the inverted duty structure, and various policy matters.</span></p> <p><span style="font-size:14px">This opportunity allows stakeholders to directly present their concerns and issues to the government for consideration and action.</span></p> <p><span style="font-size:14px">The collaborative efforts of various stakeholders will be vital in crafting effective budgetary proposals that align with the government's objectives.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39395 https://knnindia.co.in/news/newsdetails/economy/dpiit-seeks-suggestions-from-industry-associations-on-indirect-taxes-and-inverted-duty-structure-in-union-budget-2025-26 2024-09-24 17:12:58 knnindia.co.in