Kelkar panel to submit revised report next week

The Kelkar panel on direct and indirect taxes, which kicked up a storm with its controversial report on tax reforms, will submit a revised report to the Union Finance Ministry by first week of next month incorporating suggestions received from various sections of the society. The first report of the panel released earlier this month had drawn considerable flak from all the quarters as the panel had proposed withdrawal of several tax concessions.

8220;We have so far visited Pune, Ludhiana, Ahmedabad, Chennai and Mangalore among other cities and have received more than 1,500 comments through E-mail. On the basis of these suggestions, we will revise the reports wherever necessary and submit the same by December first week,8221; Vijay Kelkar, advisor to Union finance Minister, said here.