{"id":21312,"date":"2012-06-29T14:44:25","date_gmt":"2012-06-29T09:14:25","guid":{"rendered":"https:\/\/www.legalindia.in\/news\/?p=21312"},"modified":"2012-06-29T14:44:25","modified_gmt":"2012-06-29T09:14:25","slug":"govt-invites-comments-gaar","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/govt-invites-comments-gaar","title":{"rendered":"Govt invites comments on GAAR"},"content":{"rendered":"<p>The government on Friday issued draft guidelines on the <span style=\"color: #0000ff;text-decoration: underline\"><strong>general anti-avoidance rules (GAAR),<\/strong><\/span> inviting comments from different stakeholders and clarified that Prime Minister Manmohan Singh will take final call on the issue after receiving feedback.<\/p>\n<p>The <span style=\"color: #0000ff;text-decoration: underline\"><strong>Central Board of Direct Taxes (CBDT<\/strong><\/span>) issued the draft guidelines inviting comments and suggestions from different stakeholders.<br \/>\nA clarificatory note released by the Prime Minister&#8217;s Office said that Manmohan Singh has not seen the draft guidelines and would take a final call on the issue after receiving feedback from the stakeholders.<\/p>\n<p>Distancing itself from the guidelines, the PMO said it was issued from the \u0093official level of the finance ministry\u0094 and it has no approval from the prime minister, who now holds finance portfolio following Pranab Mukherjee&#8217;s quitting to contest the July 19 presidential election.<\/p>\n<p>\u0093The GAAR guidelines that have been put up on the government website from the official level of the finance ministry and shared with some stakeholders are only draft guidelines and have been put out for receiving wide-ranging feedback and for discussion purposes only,\u0094 the Prime Minister&#8217;s Office said.<\/p>\n<p>\u0093These have not been seen by the prime minister and will be finalised with the approval of the prime minister, who holds the finance portfolio, only after considering the feedback received,it added.<\/p>\n<p>The draft guidelines on GAAR\u00a0are put on the finance ministry and income tax department websites. Comments and suggestions on the issue have been invited till July 20, 2012.<\/p>\n<p>The CBDT clarified that the proposed rules, which aims at checking loopholes in the taxation system and trace tax evaders, will be implemented from April 1, 2013.<\/p>\n<p>Pranab Mukherjee had proposed the new rules in the union budget for 2012-13 presented in March.<\/p>\n<p><span style=\"text-decoration: underline\"><em>However, implementation of the rules was deferred by a year following widespread protests from business community, especially overseas investors.<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government on Friday issued draft guidelines on the general anti-avoidance rules (GAAR), inviting comments from different stakeholders and clarified that Prime Minister Manmohan Singh will take final call on the issue after receiving feedback. The Central Board of Direct Taxes (CBDT) issued the draft guidelines inviting comments and suggestions from different stakeholders. A clarificatory [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[2017,2662,9536,9537,9538,2064,2155],"class_list":["post-21312","post","type-post","status-publish","format-standard","hentry","category-top-law-news","tag-cbdt","tag-central-board-of-direct-taxes","tag-gaar","tag-general-anti-avoidance-rules","tag-guidelines-on-the-general-anti-avoidance-rules","tag-manmohan-singh","tag-prime-minister-manmohan-singh"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt invites comments on GAAR  - Legal News India - Supreme Court &amp; High Court Updates<\/title>\n<meta name=\"description\" content=\"The government on Friday issued draft guidelines on the general anti-avoidance rules (GAAR), inviting comments from different stakeholders and clarified - Get the latest legal news from the Supreme Court, High Courts, and government. 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and it is clarified that there is no service tax per se on the amount of foreign currency remitted to India\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33032,"url":"https:\/\/www.legalindia.com\/news\/us-court-asks-sikh-group-summon-manmohan-singh-june-18","url_meta":{"origin":21312,"position":2},"title":"US court asks Sikh group to summon Manmohan Singh by June 18","author":"Legal India Admin","date":"April 25, 2014","format":false,"excerpt":"A US court has asked a Sikh group to serve summons on Indian Prime Minister Manmohan Singh by June 18 or face dismissal of a case of alleged violation of human rights during his tenure. \"Plaintiffs shall file proof of service on or before June 18, 2014,\" US District Judge\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top 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The fresh application by Koda comes months after the Supreme Court\u00a0stayed the summons issued by a special CBI court.\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"Coal scam: Koda seeks summoning of Manmohan Singh","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/07\/madhu-koda2.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":48352,"url":"https:\/\/www.legalindia.com\/news\/coalscam-dishonest-misrepresentation-ex-pm","url_meta":{"origin":21312,"position":5},"title":"Coalscam: &#8216;Dishonest misrepresentation before ex-PM&#8217;","author":"Legal India Admin","date":"May 22, 2017","format":false,"excerpt":"Former Prime Minister Manmohan Singh had no reason to presume that then Coal Secretary H C Gupta recommended a non-compliant private firm for coal block allocation in Madhya Pradesh, a special court here has said. Special Judge Bharat Parashar, who convicted Gupta for irregularities in allocation of Madhya Pradesh based\u2026","rel":"","context":"In &quot;Criminal Law News&quot;","block_context":{"text":"Criminal Law News","link":"https:\/\/www.legalindia.com\/news\/category\/criminal-law-news"},"img":{"alt_text":"Coalscam: 'Dishonest misrepresentation before ex-PM'","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2016\/11\/coal-scam.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-5xK","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/21312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=21312"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/21312\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=21312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=21312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=21312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}