Quick Summary
The Ministry of Finance has initiated the pre-budget consultation process for the upcoming Union Budget 2026-27, inviting inputs from industry and trade associations on proposed changes to direct and indirect taxes. In an official communication dated October 27, 2025, the Tax Research Unit (TRU) under the Department of Revenue requested associations to share well-reasoned suggestions, supported by relevant statistical data, to help shape the forthcoming budget. The Ministry emphasized that prop
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FAQ :
The deadline for submitting suggestions is November 10, 2025.
Associations should provide well-reasoned suggestions supported by relevant statistical data, including economic justifications, production and price statistics, value addition details, and potential revenue implications.
No, GST-related issues will not be considered as they fall under the purview of the GST Council.
The government's medium-term policy is to phase out tax exemptions and deductions while rationalising tax rates.
Suggestions for Customs and Central Excise (for goods outside GST) should be sent to budget-cbec@nic.in.
Direct tax proposals may be emailed to ustpl3@nic.in.
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