F.No.334/5/2010-TRU

Government of India

Ministry of Finance

Department of Revenue

Tax Research Unit

***

Room No.146-G, North Block

New Delhi, dated the 22^nd  November, 2010

To

 

Trade and Industry Associations

Subject:  Suggestions from the Industry and Trade Associations for Budget 2011-12 regarding changes in direct and indirect taxes.

Sir/Madam,

In the context of formulating the proposals for the Union Budget of 2011-12, the Ministry of Finance would like to be benefited by the suggestions and views of your Association.  You may like to send your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same.

2.         Your suggestions and views may be supplemented by relevant statistical information about production, prices, revenue implication of the changes suggested, etc.  It would not be feasible to examine suggestions that are either not clearly explained or which are not supported by adequate justification/ statistics. As regards direct taxes, since the Direct Taxes Code, 2010 has been introduced in Parliament and is proposed to be effective from 1.4.2012, you may consider forwarding only those proposals which are urgent in nature. The Synopsis of your suggestions could be given in the following format:

3.         Your suggestions and views may be emailed to [email protected] & [email protected]. Hard copies of the Pre-Budget proposals/ suggestions relating to Customs, Central Excise and Service Tax may be sent Shri Vivek Johri, Joint Secretary (TRU), CBEC while the suggestions relating to Direct taxes may be sent to Shri Ashutosh Dikshit, Joint Secretary, Tax Policy and Legislation (TPL), CBDT . It would be appreciated if your views and suggestions reach us by the 6^th December, 2010.

                                                                                                Yours sincerely,

                                                                                                (S.Mathuria)

                                                                                                Budget Officer (TRU)

Tel :011-23094693

Fax: 011-2309 5559

Copy submitted to:

1.     Chairman, CBEC

2.     Chairman, CBDT

3.     All Members of CBEC

4.     All Members of CBDT

Tax policy consultation: call for industry submissions on direct and indirect tax changes with economic justification and format requirements. Invitation to industry and trade associations to submit evidence-based proposals on direct and indirect tax changes for the Union Budget, requiring economic justification and supporting statistics. Only urgent direct-tax proposals are requested in view of the proposed Direct Taxes Code, 2010. Each suggestion should include a concise synopsis in the format: Issue; Justification. Submissions may be emailed to the TRU addresses or sent as hard copies to the specified TRU and Tax Policy contacts, and must meet the stated submission timeline.