New Delhi, July 24 (ANI): Justice A.P. Shah on Saturday said that it is completely up to the government either to accept or reject the Minimum Alternate Tax (MAT) report submitted by them.
“To accept or reject the report or to implement the report that’s really the priority of the government. The government will examine the report and take appropriate decision,” Justice Shah told the media here.
He further said that the committee received a number of responses from various organisations.
“However, I can just tell you about the procedures that we have followed after the reference were made…. We received a number of responses from the various industry organisations, associations like FICCI, CII, PHD Chamber Of Commerce, ASOCHAM, American Chamber Of Commerce, ISAI, Indian Merchant Chamber … and some of the CA firms .We also invited some leading advocate. We completed the hearing process on 13th July and now the report is submitted to government,” he added
The government appointed Justice A.P. Shah-led committee submitted its report on Minimum Alternate Tax (MAT) to Union Finance Minister Arun Jaitley here on Friday.
The report gives its suggestions on the issue as to whether MAT should apply to foreign companies including Foreign Portfolio Investors (FPIs). (ANI)