The Centre has constitued an expert committee on General Anti Avoidence Rules, GAAR, which will receive comments from stakeholders and general public and finalise the guidelines for GAAR. According to an official release, in view of the need for widespread consultations, the Prime Minister Dr Manmohan Singh has approved the constitution of the Committee. It will be chaired by Dr. Parthasarathi Shome. It will also bring transparency and a high degree of technical expertise to the consultation process.

The Committee will receive comments from stakeholders and general public till the end of this month. Vetting and rework on the guidelines based on this feedback, will be completed by the 31st of next month. The Committee will submit the draft GAAR guidelines to the government by 30th September this year. Others members of the Committee are former Chairman of IRDA, N. Rangachary, Dr. Ajay Shah, Professor, NIPFP, and Mr Sunil Gupta, Joint Secretary in the Department of Revenue.