https://www.taxtmi.com/news?id=59932 Solicitation of industry proposals for direct and indirect tax changes for the Union Budget requiring economic justification, year-wise import and domestic production statistics, quantified revenue implications, and value-addition support for inverted duty structure corrections; GST matters excluded. Customs and Central Excise requests must state existing and requested duties in prescribed format. The Government indicates a medium-term approach to phase out tax incentives and rationalise direct tax rates, and seeks suggestions that reduce compliance, improve tax certainty, quantify positive externalities, and limit litigation, with specified submission channels and detailed annexural data fields. en-us Tue, 28 Oct 2025 10:56:22 +0530 Tue, 28 Oct 2025 10:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=59932 Solicitation of industry proposals for direct and indirect tax changes for the Union Budget requiring economic justification, year-wise import and domestic production statistics, quantified revenue implications, and value-addition support for inverted duty structure corrections; GST matters excluded. Customs and Central Excise requests must state existing and requested duties in prescribed format. The Government indicates a medium-term approach to phase out tax incentives and rationalise direct tax rates, and seeks suggestions that reduce compliance, improve tax certainty, quantify positive externalities, and limit litigation, with specified submission channels and detailed annexural data fields. News - Tue, 28 Oct 2025 10:56:22 +0530 https://www.taxtmi.com/news?id=59932