Indirect Taxes Committee Invites Suggestions for Pre-Budget Memorandum - 2011

Dear Members,

The Central Indirect Taxes Committee is in the process of identifying issues that need to be taken up in the Pre-Budget Memorandum on Indirect Taxes - 2011 to be submitted to the Ministry of Finance.

The Committee invites suggestions on laws relating central excise duty, customs duty and service tax for the purpose of inclusion in the Pre-Budget Memorandum - 2011.

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

Issue - brief description of the issue with relevant provisions of law Suggestion - specific suggestion to deal with the issue Rationale - the justification for the suggestion.

We look forward to receiving your suggestions at suggest.idtc@icai.org by 31st October, 2010.

Secretary Indirect Taxes Committee

Extension of due date for filing of IT Return

The Central Board of Direct Taxes (CBDT) vide its Circular No. 225/72/2010/ITA.II/CBDT dated 27th September 2010 has extended due date for filing of IT return due on 30th September 2010 by 15th October, 2010

The CBDT has cited floods and heavy rains as the reason for the extension given.

Accordingly, the due date for the tax audit report has also been extended to October 15