{"id":21725,"date":"2012-07-13T16:01:16","date_gmt":"2012-07-13T10:31:16","guid":{"rendered":"https:\/\/www.legalindia.in\/news\/?p=21725"},"modified":"2012-07-13T16:01:16","modified_gmt":"2012-07-13T10:31:16","slug":"pm-sets-up-committee-to-frame-guidelines-on-gaar","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/pm-sets-up-committee-to-frame-guidelines-on-gaar","title":{"rendered":"PM sets up committee to frame guidelines on GAAR"},"content":{"rendered":"<p>Within a fortnight of the Finance Ministry issuing draft guidelines on <span style=\"color: #800000;text-decoration: underline\"><strong>GAAR<\/strong><\/span>, <span style=\"color: #800000;text-decoration: underline\"><strong>Prime Minister Manmohan Singh<\/strong> <\/span>on Friday set up a committee to prepare fresh norms on the controversial tax provision to bring \u201c<span style=\"color: #800000;text-decoration: underline\"><strong>greater clarity\u201d<\/strong> <\/span>and prepare a roadmap by September 30 for its implementation.<\/p>\n<p>\u00a0The four-member committee, to be headed by ICRIER chief and <span style=\"color: #800000;text-decoration: underline\"><strong>taxation expert Parthasarathi Shome<\/strong><\/span>, will submit its report after consulting and taking feedback from stakeholders.<\/p>\n<p>\u00a0\u201c<span style=\"text-decoration: underline\"><em>The Prime Minister has approved the constitution of an Expert Committee on GAAR to undertake stakeholder consultations and finalise the guidelines for GAAR (General Anti-Avoidance Rules),\u201d<\/em><\/span> a PMO statement said.<\/p>\n<p>\u00a0\u201c<span style=\"text-decoration: underline\"><em>This committee would manage the consultation process and finalise the draft GAAR Guidelines,\u201d<\/em><\/span> it said.<\/p>\n<p>\u00a0The setting up of the committee to hold wider consulations on the controversial tax provision comes within a fortnight of the Finance Ministry issuing draft guidelines. However, the Prime Minister, who holds the Finance portfolio, was quick to distance himself from it, saying that he had not approved these.<\/p>\n<p>\u00a0Introduction of GAAR, which was proposed by then <span style=\"color: #800000;text-decoration: underline\"><strong>Finance Minister Pranab Mukherjee<\/strong> <\/span>in the Budget 2012-13 to check tax evasion, had triggered outrage by foreign investors following which its implementation was postponed till April next year.<\/p>\n<p>\u00a0\u201c<span style=\"text-decoration: underline\"><em>There is a need to have greater clarity on many other fronts. With this in view, the Prime Minister has constituted this Expert Committee which will bring transparency and a high degree of technical expertise to the consultation process<\/em><\/span>,\u201d the PMO statement said.<\/p>\n<p>\u00a0\u201c<span style=\"text-decoration: underline\"><em>While postponing GAAR by one year to 2013 was a very welcome move, a widespread consultative process is necessary to generate a discussion on GAAR provisions so that there is an informed debate on how GAAR is going to operate,\u201d<\/em> <\/span>is said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Within a fortnight of the Finance Ministry issuing draft guidelines on GAAR, Prime Minister Manmohan Singh on Friday set up a committee to prepare fresh norms on the controversial tax provision to bring \u201cgreater clarity\u201d and prepare a roadmap by September 30 for its implementation. \u00a0The four-member committee, to be headed by ICRIER chief and [&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":[10376,1985,9536,10378,10379,9537,10375,2064,2102,2155,10377],"class_list":["post-21725","post","type-post","status-publish","format-standard","hentry","category-top-law-news","tag-expert-committee-on-gaar","tag-finance-minister-pranab-mukherjee","tag-gaar","tag-gaar-guidelines","tag-gaar-provisions","tag-general-anti-avoidance-rules","tag-guidelines-on-gaar","tag-manmohan-singh","tag-pranab-mukherjee","tag-prime-minister-manmohan-singh","tag-taxation-expert-parthasarathi-shome"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PM sets up committee to frame guidelines on GAAR - Legal News India - Supreme Court &amp; High Court Updates<\/title>\n<meta name=\"description\" content=\"Within a fortnight of the Finance Ministry issuing draft guidelines on GAAR, Prime Minister Manmohan Singh on Friday set up a committee to prepare fresh - Get the latest legal news from the Supreme Court, High Courts, and government. 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The Central Board of Direct Taxes (CBDT) issued the draft guidelines inviting comments and suggestions\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":13541,"url":"https:\/\/www.legalindia.com\/news\/kashmir-villager-sends-rs-26-to-manmohan-montek","url_meta":{"origin":21725,"position":1},"title":"Kashmir villager sends Rs.26 to Manmohan, Montek","author":"Legal India Admin","date":"October 2, 2011","format":false,"excerpt":"\u00a0 A villager from Ramban district of Jammu and Kashmir Saturday said he has sent demand drafts of Rs.26 -- the Planning Commission's poverty line cut-off for rural areas -- to Prime Minister Manmohan Singh, Finance Minister Pranab Mukherjee and the commission's Deputy Chairman Montek Singh Ahulwalia and asked them\u2026","rel":"","context":"In &quot;Media &amp; Entertainment News&quot;","block_context":{"text":"Media &amp; Entertainment News","link":"https:\/\/www.legalindia.com\/news\/category\/media-entertainment-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2011\/10\/manmohan-singh.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":23422,"url":"https:\/\/www.legalindia.com\/news\/hc-upholds-cat-order-to-revoke-officers-suspension","url_meta":{"origin":21725,"position":2},"title":"HC upholds CAT order to revoke officer&#8217;s suspension","author":"Legal India Admin","date":"September 18, 2012","format":false,"excerpt":"The Delhi High Court today upheld a Central Administrative Tribunal's order which had revoked on July 1 this year the 12-year-long suspension of controversial Indian Revenue Service officer Ashok Aggarwal, facing a CBI probe into several cases against him. A bench of justices Pradeep Nandrajog and Manmohan Singh upheld the\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":19565,"url":"https:\/\/www.legalindia.com\/news\/vodafone-serves-notice-to-government-on-tax-proposal","url_meta":{"origin":21725,"position":3},"title":"Vodafone serves notice to government on tax proposal","author":"Legal India Admin","date":"April 18, 2012","format":false,"excerpt":"The Vodafone Group has served a 'dispute notice' on the Centre, the first step before it begins international arbitration proceedings under the India-Netherlands bilateral investment treaty against the government's controversial move to tax the company's acquisition of Hutchison Essar in 2007. This is the first formal action initiated by the\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":48352,"url":"https:\/\/www.legalindia.com\/news\/coalscam-dishonest-misrepresentation-ex-pm","url_meta":{"origin":21725,"position":4},"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":[]},{"id":22010,"url":"https:\/\/www.legalindia.com\/news\/pranab-mukherjee-sworn-in-as-13th-president-of-india","url_meta":{"origin":21725,"position":5},"title":"Pranab Mukherjee sworn-in as 13th President of India","author":"Legal India Admin","date":"July 25, 2012","format":false,"excerpt":"Pranab Mukherjee was on Wednesday sworn-in as the country\u2019s 13th President at an impressive ceremony in the packed and historic Central Hall of Parliament. \u00a0Chief Justice of India S H Kapadia administered the oath of office to Mr Pranab Mukherjee in the presence of Vice President Hamid Ansari, Prime Minister\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":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-5Ep","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/21725","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=21725"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/21725\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=21725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=21725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=21725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}