FINANCIAL MEMORANDUM
The Authority for Advance Rulings on Central Taxes Bill, 2007, seeks to provide for the constitution of the Authority for Advance Rulings on Central Taxes consisting of a Chairperson and three Members. As the Authority will be in lieu of the existing Authority for Advance Rulings (Income-Tax) and Authority for Advance Rulings (Central Excise, Customs and Service Tax), each consisting of a Chairperson and two Members, there will be no extra expenditure in constituting the Authority for Advance Rulings on Central Taxes and its supporting staff.
