Finance ministry sets up interactive forum to address taxation issues
18 Jul 2013
The finance ministry has constituted a forum headed by Parthasarathi Shome, adviser to the finance minister, for exchange of views between industry groups and the government on tax related issues or tax related disputes.
The forum will meet every Wednesday at 3 pm, beginning 7 August 2013. Parthasarathi Shome will be supported by officials of the Tax Policy and Legislation (TPL) wing of the Central Board of Direct Taxes (CBDT) and the Tax Research Unit (TRU) of the Central Board of Excise and Customs (CBEC), an official release said today.
Chambers of commerce, industry associations and industry groups have been asked to submit their memorandums to Parthasarathi Shome and then seek an appointment. An appointment will be fixed for them on a suitable Wednesday. They will be given a hearing by Parthasarathi Shome and the officers assisting him.
Finance minister P Chidambaram had yesterday announced the setting up of a mechanism under which Parthasarathi Shome, adviser to the finance minister, will meet industry groups and associations once a week and take note of their concerns.
He, however, said it would only be a forum to address the concerns of a particular industry and not individual cases.
''There is a merit for having an institutional, structured mechanism to hear concerns of industry groups. At present, we get to hear about their concerns only once a year during the pre-budget discussions,'' Chidambaram said.
Chambers and industry associations have been making representations from time to time on tax-related issues and tax-related disputes that concern the industry as a whole or concern large sections of the industry.
They have also been demanding the setting up of a permanent forum at which they can be heard and their views considered by the government.
The mechanism is equally beneficial to industry and the government as it gives each other a forum to explain their views, the release pointed out.
