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  3. Parthasarathi Shome calls for radical overhaul of tax structure

Parthasarathi Shome calls for radical overhaul of tax structure

17 Jun 2014 Evaluate

Tax Administration Reform Commission (TARC), headed by Parthasarathi Shome, as part of needed reforms in the tax administration, has recommended a radical overhaul including abolition of the post of revenue secretary, empowerment of the apex direct and indirect taxes bodies, and allowing revenue service officers to specialize to help implement global best practices. It suggested a plethora of changes, including no retrospective amendments in tax laws and liquidation of cases clogging the system in a year to improve the tax environment.

In a major overhaul, Shome panel has recommended the merger of Central Board of Direct Taxes and the Central Board of Excise & Customs to achieve higher efficiencies. It has suggested a governing council, headed by a chairperson of the two Boards, by rotation, and with participation from outside the government, to be set up at the apex level to oversee the functioning of these two boards, instead of a revenue secretary who is an Indian Administrative Service officer.

The commission has also recommended other sweeping changes, including pre-filled returns for individuals, a common return for I-T and wealth tax among other things. It has emphasized upon the need to ensure the payment of refunds along with interest within a stipulated timeframe, which could be possible only if a separate allocation is made in the Budget, a demand which has been long-standing in the wake of delays that has been ignored by the finance ministry.

This panel, headed by Shome was set up during the previous UPA government, is now pinning hopes on the political will of the new government for carrying out the radical measures, which are crucial to reflect the expectations of India's new and future generations that have the desire to work and be productive rather than facing and combating high costs of compliance. The focus of this commission is also on reducing disputes and litigation and is in line with the new government's promise to provide a non-adversarial tax regime.

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