The Centre has constitued an expert committee on General Anti Avoidance Rules, GAAR, which will receive comments from stakeholders and general public and finalise the guidelines for GAAR. According to an official release in New Delhi, the Prime Minister Dr Manmohan Singh has approved the constitution of the Committee in view of the need for widespread consultations. It will be chaired by Dr. Parthasarathi Shome, a noted economist and taxation expert. The Committee will receive comments from stakeholders and general public till the end of this month and finalise guidelines based on this feedback by the 31st of next month. It will submit the draft GAAR guidelines to the government by the 30th September this year. Others members of the Committee are N. Rangachary, former Chairman of Insurance Regulatory and Development Authority, IRDA, Dr. Ajay Shah, Professor at the NIPFP and Sunil Gupta, Joint Secretary in the Department of Revenue.

Introduction of GAAR was proposed by the then Finance Minister Pranab Mukherjee in the budget for the current fiscal was postponed for one year for wider consultations befoere its implementation.