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Announcement inviting suggestions for ICSI pre-budget Memorandum, 2014-15

The ICSI is in the process of identifying issues for inclusion in the Pre-Budget Memoranda for Union budget 2014-15 to be submitted to the Ministry of Finance. Suggestions are invited on laws relating to Direct Taxes (including International Taxation) and Indirect Taxes for the same.

Suggestions relating to Direct Taxes are invited under the following head:

1. Suggestion for widening the tax base and increasing the tax revenue

2. Rationalization of Direct tax Laws provisions

3. Measures to prevent generation and circulation of unaccounted money

4. Check tax avoidance

5. Measures for reducing litigations

6. Suggestions for removing administrative and procedural difficulties related to Income tax.

7. Miscellaneous

Suggestions in respect of Indirect Taxes are invited to cover the following:

1. Central Excise Law

2. Customs Law

3. Service Tax Law and Rules

4. Goods and Service tax (GST) (proposed)

5. Any other relevant issue under indirect tax laws

The suggestions relating to policy matters and procedural matters to be mentioned separately and for each issue, in the following format:





Further, in respect of proposals relating to changes in Customs and Central Excise duty rates, the following additional information may be provided:


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

 Suggestions may be sent to The ICSI at this email id: jai.agarwal@icsi.edu by 30th April, 2014.

Your valuable suggestions within the requested date would be highly appreciated and would facilitate in making a proper representation before the authorities.

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