Panel to look into rising litigations in indirect taxes

Finance minister Pranab Mukherjee has constituted a committee to suggest steps to bring down litigation in indirect taxes. "Rising litigation with taxpayers is matter of serious concern for the government. A need for reducing the litigation has been emphasised by the finance minister... As per the directions of the finance minister, a Standing Committee has been constituted in the CBEC to look into the issue," a finance ministry directive said.