"There is a dire need to have a resolution mechanism at the first stage of the dispute itself, wherein tax payers, especially large tax payers, could discuss with revenue authorities and arrive at a decision/resolution in time, This would go a long way in India bringing in transparency, ease of doing business and will cut down on unnecessary disputes and litigation in the country."

Vikas Vasal
Partner, Grant Thornton India LLP

This article appeared in Economic Times on 11th July, 2017.