Indirect taxes constitute almost 50% of Central Government's revenue and possibly, more than 70% of each State Government's revenue.

Indirect taxes are ultimately passed on to consumers and form a significant part of total cost of a product / service. Taxes on goods itself, currently, constitute about 30% of the price of a product taxed at standard rates. 

The structure of indirect taxes in the country is undergoing changes; the rates are rationalized and processes are simplified. The Finance Minister has announced introduction of GST in 2010.

In this background, the Indirect Tax Committee has decided to establish a network of indirect tax practitioners whether they be members in practice or in industry with a view to provide a platform for interactions on variety of issues arising in this context, consolidate views of industry and constitute a think tank facilitating decision making process of Government.