We have received communication from EP-CAP Division, DOC forwarding us OM dated 8th Sept 2020 from the Trade Finance Section, DOC regarding commencement of the Pre-Budget Exercise for the year 2021-22.
In this regard, export-import duty related proposals are invited for consideration by Trade Finance Section, Department of Commerce which are duly filed in the prescribed format i.e. Proforma- I & II (enclosed).
Further, specific points to be noted for the proposals as stated by Trade Finance Section are:
Ø Budget Proposals should be complete in all respects, properly categorized and HS Codes for each commodity must be provided.
Ø Justification given in favor of the proposals shall be restricted to 300 words and Annexures should be used, if necessary.
Ø Issues discussed year after year but never agreed to, may not be raised again.
Ø There is a serious fiscal crisis. Therefore, proposals of small reduction/exemption in custom/excise duties, service tax etc. should be avoided unless they are absolutely necessary if such reduction/exemption are necessary, then ample justification should be given.
Members are requested to kindly forward their proposals in the specified pro-forma format (Proforma- I&II) latest by 15th September 2020 on our e-mail ids email@example.com, firstname.lastname@example.org, email@example.com & firstname.lastname@example.org .
Your timely responses in the specified formats will enable us collate them and forward to the EP-CAP Section, DOC for examination/ deliberations and onward submission to Trade Finance Section, DOC.
(S.G BHARADI )