Insights

GAAR Exemptions and Uncertainties
GAAR Exemptions and Uncertainties

Sunil Arora, our Partner Taxation and Deputy Manager, Varun Sharma wrote an article on GAAR which was published in the October edition of  The Chamber's Journal.

GAAR is a set of anti-abuse provisions which empower the revenue authorities to examine the underlying purpose in each transaction with a view to address the issue of tax avoidance. The Indian GAAR originated from the Direct Tax Code, 2009 and after some turbulence, was formulated in 2012. Given the subjective nature of the 2012 GAAR legislation, an Expert Committee was set up under the Chairmanship of Dr. Parthasarathy Shome to recommend an appropriate implementation strategy in consultation with various stakeholders including the public at large. Subsequently, in 2016, specific rules were notified followed by a circular in 2017 containing FAQs on critical issues.

Click on the Download link below to access complete article.

Download Pdf
 

DISCLAIMER


We have taken all steps to ensure that the information on the website has been obtained from reliable sources and is accurate. However, this website is not intended to give legal, tax, accounting or other professional guidance. We recommend appropriate advice be taken prior to initiating action on specific issues.

ASA & Associates LLP

Looking for ASA Japanese website ?