<h1>Pre-budget memorandum calls for corporate tax cuts, GST simplification, input tax credit restoration, and insolvency tax carve outs.</h1> The memorandum urges repeal or relaxation of anti abuse provisions including sections 56(2)(x) and 50CA, relief from MAT in insolvency resolution, retroactive amendment of section 14A for dividend income, a roadmap to reduce corporate tax rates, simplification of ICDS and deduction rules to reduce litigation, and expanded tax carve outs for insurance and re insurers. On GST it seeks reduced compliance, convergence to fewer rates, seamless input tax credit (including removal of section 17 restrictions and reversal rules for healthcare/pharma free or expired samples), clarification of HSN classifications, and sectoral zero rating or exemptions to protect domestic industry and affordability.