Meeting with Mr. R.S. Gujral, Finance Secretary – 23rd December 2011

A few members of Amcham called on Mr. R.S. Gujral, Finance Secretary, to present Amcham’s Pre-Budget Memorandum. The Finance Secretary was accompanied by Mr. M.C. Thakur, Member (Budget), Central Board of Excise & Customs; Mr. K.M. Nair, Member (L&C), Central Board of Direct Taxes; Mr. Ashutosh Dikshit, Joint Secretary (TPL-I), Central Board of Direct Taxes; Mr. Vivek Johri, Joint Secretary (TRU-I), Central Board of Excise & Customs; and Mr. V.K. Garg, Joint Secretary (TRU-II), Central Board of Excise & Customs.

Mr. Atul Dhawan, Hony. Treasurer, Amcham; Chairman, Amcham’s Committee on Economic Affairs; and Partner, Deloitte India, introduced Amcham and requested other members to present the main issues.

Mr. Rahul Mitra, National Head - Transfer Pricing, PricewaterhouseCoopers Private Limited, made a presentation on need for fundamental reforms in the Indian transfer pricing regulations.

Other members highlighted issues relating to direct and indirect taxes. The Pre-Budget Memorandum focused on simplification of procedures, rationalization/removal of anomaly and duty concessions/benefits.