On 29 April 2016, the Indian Government issued a release reconfirming its commitment to implementing GAAR from 1 April 2017.
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Implementation of General Anti Avoidance Rule (GAAR)
The Government is committed to implement General Anti Avoidance Rule (GAAR) in the country from the next financial year. The commitment of the Government to implement GAAR from 1.4.2017, i.e., Assessment Year 2018-19 relevant to the Financial Year 2017-18, is also reflected in the Budget Speech 2016 delivered …