All India Rubber Industries Association organized webinar on the Union Budget 2026's impact on the rubber manufacturing sector on 4 February 2026, having three speakers CA Samir Sanghvi, Direct Tax and Family Office Advisory, In.Corp Advisory Services Pvt. Ltd., CA Margav Shukla, Direct Tax Advisory, In.Corp Advisory Services Pvt. Ltd., and CA Jigar Doshi, Founding Partner, TMSL Co-Founder, InCorp India.

The webinar began with speaker Samir Sanghavi, who highlighted India's strong economic fundamentals and its growing global prominence, noting significant initiatives such as the EU trade agreement and potential India-US trade deal. He emphasized the government's focus on sustainable economic growth, resilience against global uncertainties, and the development of strategic and frontier sectors like biopharma, chemicals, and semiconductors. He also discussed financial inclusion efforts and the simplification of tax procedures, including reduced penalties and changes to the Minimum Alternate Tax (MAT) system. Further, speaker Margav Shukla explained that the Income Tax Department has clarified their stance on assessment jurisdiction, which will impact pending cases, and outlined retrospective amendments affecting DIN-related litigation. The discussion covered various tax relief measures including reduced TDS rates for education and medical treatment remittances, extended filing deadlines for businesses without tax audit, and reduced penalties for late filings. Speaker Jigar Doshi then presented indirect tax proposals, highlighting the rubber industry's concerns about high import duties on raw materials and the need for critical evaluation of Free Trade Agreements, while noting that finished goods are taxed at lower rates than raw materials, which contradicts the Make in India initiative. The discussion concluded with a reminder that while the budget offers opportunities, industries must actively engage with the government to secure necessary amendments.