Will expand consultation process for GAAR: Shome

Chief of Prime Minister appointed panel on GAAR,Parthasarathi Shome,said ambit of consultations on the anti-tax evasion measures will be widened

Written by Press Trust Of India | New Delhi | Published: July 17, 2012 2:58:59 am

Chief of Prime Minister appointed panel on GAAR,Parthasarathi Shome,on Monday said ambit of consultations on the anti-tax evasion measures will be widened.

“We will expand the consultation process,” he told CNBC TV18,but added “long consultation process on GAAR (General Anti-Avoidance Rules) is not required”.

Last week,Prime Minister Manmohan Singh had appointed a four member panel under Shome to prepare fresh norms on the controversial tax provision to bring “greater clarity” and prepare a roadmap by September 30 for its implementation.

The committee has been asked to finalise the GAAR guidelines and a roadmap for implementation and submit it to the government by September 30.

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