TASK FORCE ON INDIRECT TAXES FINALISES CONSULTATION
PAPER
The Task Force on Indirect Taxes, constituted
by the Government, in September, 2002 has completed its deliberations
and finalized a Consultation Paper as a prelude to its Report
due for submission by end November, 2002. The Task Force is headed
by Dr. Vijay L. Kelkar, Adviser to Minister of Finance & Company
Affairs.
The Consultation Paper contains recommendations,
which strengthen the hands of both tax payers and tax administrators
in the overall interest of the economy. It has been framed after
a dialogue with large cross sections of the trade and industry,
importers and exporters, and individual tax payers. It also had
wide ranging consultations with tax administrators and tax planners.
The Consultation Paper will now be made available to the public
for feedback and comments to be used by the Task Force for the
preparation of its final report.
It may be recalled that the Task Force on Indirect
Taxes is an outcome of the Finance Minister’s commitment to focus
on the simplification of procedures and transparency in tax administration
based on the underlying philosophy that "Tax administration
is a service, to be provided efficiently to the taxpayers as to
encourage voluntary compliance". The objective is to take
advantage of information technology and bring our indirect tax
systems and procedures at par with the best international practices
and thus encourage compliance and reduce transaction costs.
The Task Force includes Dr. Ashok Lahiri, Chief
Economic Adviser, Ministry of Finance, Prof. Jayanta Roy, IIM,
Kolkata and all major trade and industry associations with Shri
Sunil Kant Munjal, Hero Cycles, Ludhiana, representing CII, Shri
Sanjay Bhatia, Hindustan Tin Works, Ghaziabad, representing PHDCCI,
Shri K.S. Suresh, ITC Limited, Kolkata, representing FICCI, Shri
Nihal Kothari, Hindustan Lever Limited, Mumbai, representing ASSOCHAM,
Shri Y.P.Suri, Rex Enterprises, Delhi, representing FASSI, Shri
K.S. Ravishankar, Bangalore, representing NASSCOM and Shri Deepak
Puri, Moser Baer, Delhi, representing Electronics and Software
Export Promotion Council. Shri Gautam Ray, Joint Secretary and
Shri S.M.Bhatnagar, Director, C.B.E.C. are the official representatives
on the Task Force.
