Suggestions from the Industry and Trade Associations for General Budget 2014-15 regarding changes in direct and indirect taxes - Central Excise - F. No. 334/8/2014-TRU

F. No. 334/8/2014-TRU Government of India Ministry of Finance Department of Revenue Tax Research Unit New Delhi, dated the 17 th April, 2014 To Industry and Trade Associations Subject : Suggestions from the Industry and Trade Associations for General Budget 2014-15 regarding changes in direct and indirect taxes. Sir/Madam, In the context of formulating the proposals for the Union Budget 2014-15, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may, therefore, 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. Suggestions may also be given for simplification and rationalization of duties and taxes. 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. As regards direct taxes, the government s policy is to phase out profit linked deductions and minimize exemptions; you may take this into consideration while forwarding proposals. The Synopsis of your suggestions could be given in the following format : S. No. Issue Justification 2.1 Further, in respect of proposals relating to changes in Customs and Central Excise duty rates, the following additional information may be provided. S. No. HS Code Descrip-tion of the Product Quan-tum of Imports 2012-13 and 2013-14 CIF value of imports 2012-13 and 2013-14 Quantum of domestic prod-uction 2012-13 and 2013-14 Value of domes-tic prod-uction 2012-13 and 2013-14 Unit Price (CIF) Exist-ing Duty Propo-sed Duty Revenue impli-cation of the proposal Impli-cations of the pro-posal for the dome-stic indus-try 3. Your suggestions and views may be emailed, as word document in the form of separate attachments, in respect of Indirect Taxes (1. Customs and Central Excise, 2. Service Tax) to [email protected]. and 3. Direct Tax to [email protected]. Hard copies of the Pre-Budget proposals/suggestions relating to Customs Central Excise may be sent to Shri P.K. Mohanty, 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 5 th May 2014. Yours sincerely, (P.K. Mohanty) Joint Secretary (TRU-I)