AP Shah panel may have 2 other members

Justice AP Shah may have two other members assisting him on the new committee that is being set up by the finance ministry to advise the government on whether its stance on the controversial MAT issue is correct or not. CNBC-TV18 learns that the committee could in fact be made a permanent body.

The Panel may be a three-member body and may have two tax experts as members. It may not have any government nominee, showing the government’s intent to make the panel as independent as possible in terms of recommendations given by them, and future tax issues may be referred to it. 

The government is also likely to seek policy inputs on direct tax laws from the panel, thus turning it into a body that could continue to advise the government in the long run. As a first step, the Shah panel will submit its report on MAT at the earliest.