Budget 2012 – Revenue Invites Suggestions From Trade Associations
IN formulating the proposals for the Union Budget 2012-13, the Finance Ministry wants to be benefitted by the suggestions and views from Trade and Industry Associations.
They want the suggestions along with relevant statistical information about production, prices, revenue implication of the changes suggested, etc. In the Direct Taxes, since the Direct Taxes Code, 2010 has been introduced in Parliament and is proposed to be effective from 1.4.2012, they want only proposals, which are urgent in nature. And they are in a hurry – they want the suggestions with bulky accompanying documents by 15th of this month – you have just four days time, if you have not already sent in your suggestions. The president of a Trade Association suggested that they should have mentioned that these suggestions could be dropped directly in the ‘Waste paper Basket' of the Finance ministry.
Suggestions regarding Customs and Central Excise are to be sent to Shri Vivek Johri, Joint Secretary (TRU-I), and Service Tax to Shri V K Garg, Joint Secretary (TRU-II), CBEC and suggestions relating to Direct taxes may be sent to Shri Ashutosh Dikshit, Joint Secretary, Tax Policy and Legislation (TPL), CBDT.
Suggestions and views may also be emailed to
budget-cbec@nic.in & ustpl3@nic.in
MOF DOR F.No.334/9/2011-TRU Dated: November 02,2011