ASSOCHAM seeks Customs amnesty to settle ₹1.5 trillion disputes
In short
ASSOCHAM has asked for a one-time Customs amnesty scheme in its pre-Budget memo. The proposal also calls for tax breaks for manufacturers and lower long-term capital gains tax rates, with the reported dispute amount at ₹1.5 trillion.
This could affect companies with Customs disputes and investors, but it is only a request so far. The reporting does not say whether the government will accept it.
What the reporting says
ASSOCHAM has proposed a one-time Customs amnesty scheme in its pre-Budget memorandum, according to a publisher summary citing the business chamber. The proposal also mentions tax incentives for manufacturers and lower long-term capital gains tax rates. The reported dispute amount is ₹1.5 trillion, but the reporting does not say whether the government will consider the request or when any decision might come.
Why it matters
ASSOCHAM has put a one-time Customs amnesty scheme in its pre-Budget memorandum, alongside tax incentives for manufacturers and lower long-term capital gains tax rates. The published summary says the Customs disputes involved are worth ₹1.5 trillion. The immediate question is whether the government will include any of these asks in the Budget; the reporting does not state any official response or timeline.