A complete financial world was taken aback with the announcement of Gaar in inda a lot of hue and cry

was raised and it led to setting up of the shome committee in INDIA by the finance minister. The decision was taken by govt. in july when under the eminent economist dr. parthasarathi shome and three other officials it led to the implementation and roadmap of Gaar. The panel included the minimum threshold of taxes which the shome panel has proposed in for applying gaar in india. The assessment to be upheld. Abolish capital gain tax on tax on listed securities.gaar should not be applicable for only fiis Advantages of gaar. lot of contribution to the national exchequer proper valuation of nations product as recently 2G was auctioned. Brand image of india will also increase. Gaar implementation will bring the country lot of reserves that will be ultimately utilized in the country