Advance Ruling for Indians

By Vijay Kumar

Recommendations

++ At present the facility of Advance Ruling is only available to Joint Ventures or Subsidiary of a Foreign Company. A similar facility should be extended to Indian Corporates

There was a lot of debate on this and with much difficulty and on persuasion by a Chief Commissioner, this recommendation was accepted. There is the concept of advance ruling in the VAT laws of many states and it will be a welcome feature if it is extended to Excise, Customs and Service Tax. It will be a good idea to make every Commissioner an Advance Ruling Authority.