Trying to resolve pending tax disputes in next few days: FM Arun Jaitley

Jaitley did not elaborate on the disputes or the resolutions being worked out.

By: PTI | New Delhi | Updated: September 17, 2015 2:39 pm
arun jaitley, india tax reforms, india reforms, indian economy, india tax disputes, india markets, finance ministry, india business, india business news Union Finance Minister Arun Jaitley

Finance Minister Arun Jaitley today said the government will resolve over the next few days many of the outstanding tax disputes through judicial or executive resolutions. Jaitley said while a number of tax disputes have been “put to rest” since the BJP government took office in May last year, others are being resolved now.

“Now, a number of them have been put to rest and we are trying over the next few days itself so that many others can be put to sleep either by a judicial resolution or an executive resolution,” he said while addressing the India Economic Convention in New Delhi.

He, however, did not elaborate on the disputes or the resolutions being worked out.

Watch video – Arun Jaitley: India Plans to Address Some Pending Tax Disputes Within Days

Stating that the system of allocation of natural resources has been rationalised and the controversies put to rest, Jaitley said there are many other reforms in the pipeline.

While the GST reform is stuck because of political reasons, the government is trying to put on track a bankruptcy code, dispute resolution in major contracts, expeditious arbitration procedures and a public procurement law, he said.

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“In a situation where there is turmoil almost by the day as far as global markets are concerned, we are trying to make the fundamentals of our own economy strong so our ability to resist these changes can substantially improve,” he said.

The Finance Minister impressed upon the need to attract more investments for the manufacturing sector.

“Without investment, there is going to be no additional economic activity,” he said, terming improving ease of doing business and resolution of tax disputes as “work in progress”.

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  1. Mallikarjun Iyyer
    Sep 17, 2015 at 2:07 pm
    improve ease of doing business and get unleashed animal spirits of the economy in return. resolve tax dispute without puting in place bad precedents and improve revenue. reinvest revenue in welfare measures as affraudable housing and built social security. Thus you shall be delivered with developed india. forget GDP/PDP ETC
    1. I
      Sep 17, 2015 at 1:11 pm
      If an AAM INDIAN STEALS Rs 100 he will be in "jail without bail" indefinitely while RICH LOOT CRORES paid as TAX by AAM INDIANS but get away free. ............ The IE report today highlight 19.2 CRORE tax paid by AAM Indians LOOTED by Vasan Eye Care Hospital but nothing will happens as the CRORES LOOTED will BUY the best LAWYERS to MANITE the system.