<h1>Indo-American Chamber Proposes Tax Reforms: Align Services Definition, Restore Export Benefits, and Reclassify Clinical Trials.</h1> The Indo-American Chamber of Commerce has submitted a comprehensive pre-budget memorandum on indirect taxes for the 2015-16 budget. Key recommendations include narrowing the definition of 'service' to align with international practices, restoring export benefits for technical testing services, and reclassifying clinical trial services under the Place of Provision Rules. The memorandum also suggests eliminating the time limit for availing CENVAT credit, reducing the interest rate on delayed tax payments, and expanding eligibility for advance rulings. Additionally, it calls for customs duty exemptions on life-saving drugs and medical devices, addressing the inverted duty structure in pharmaceuticals, and simplifying compliance procedures under the Foreign Trade Policy.