The Union Finance Ministry has started arrangements for the introduction of the full Budget 2019-20 by another administration in July, even as the nation is amidst the progressing seven-staged general races. The Ministry has conveyed correspondences to different industry bodies and different partners welcoming their recommendations on immediate and aberrant duties identified with different divisions. Industry pioneers said they expect changes in custom rates and direct charges as the Goods and Services Tax (GST) has expelled most roundabout assessments from the domain of the Budget.
We expect a ton of changes on direct duty front. On the off chance that the present government returns they would bring changes as they have certain things in their psyche from earlier years. On the off chance that another administration comes, they would unlikely go for any major change given that they would have next to no time. From November, arrangements should begin for the next monetary’s Budget, a senior industry official said. The Finance Ministry has looked for industry remarks from by May 10, 2019.