F.No.344/20/2014-TRU
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
TAX RESEARCH UNIT
NEW DELHI
Dated: October 27, 2014
To
Trade and Industry Associations
Subject: Suggestions from the Industry and Trade Associations for Budget 2015-16 Regarding changes in direct and indirect taxes.
In the context of formulating the proposals for the Union Budget of 2015-16, 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 and justified by relevant statistical information about production, prices, revenue implication of the changes suggested and any other information to support your proposal. The request for correction of inverted duty structure, if any for a commodity, should necessarily be supported by value addition at each stage of manufacturing of the commodity. It would not be feasible to examine suggestions that are either not clearly explained or which are not supported by adequate justification/ statistics. Further, as regards direct taxes, the government policy is to phase out profit linked deductions and minimizes exemptions; you may take this into consideration while forwarding proposals. The Synopsis of your suggestions could be given in the following format:
| Sr.No. | Issue | Justification |
2.1 Further, in respect of proposals relating to changes in Customs and Central excise duty rates, the additional information as prescribed in the Annexure enclosed herewith, may be provided.
3. Your suggestions and views may be emailed, as word document in the form of separate attachments, in respect of Indirect Taxes (Customs, Central Excise and Service Tax) to budget-cbec@nic.in. and Direct Tax to ustpl3@nic.in. Hard copies of the Pre-Budget proposals/ suggestions relating to Customs & Central Excise may be sent to Shri Alok Shukla, Joint Secretary (TRU-I), and Service Tax to Shri M. Vinod Kumar, Joint Secretary (TRU-II), CBEC, while the suggestions relating to Direct Taxes may be sent to Ms Pragya S. Saksena, Joint Secretary, Tax Policy and Legislation (TPL-I), CBDT . It would be appreciated if your views and suggestions reach us by the 10th November 2014.
(Malay Samir)
Budget Officer (TRU)
ANNEXURE
| S.No | HS Code | Description of the Product | Quantum of Imports 2012-13 and 2013-14 | CIF value of imports 2012-13 and 2013-14 | Quantum of domestic production 2012-13 and 2013-14 | Value of domestic production 2012-13 and 2013-14 | Unit Price (CIF) | Existing Duty | Proposed Duty | Revenue implication of the proposal | Implications of the proposal for the domestic industry |
