Budget 2017: GAAR Is Well Intended & Addresses Key Issues, Says Naveen Aggarwal, KPMG India

The implementation of GAAR is well intended and addresses a number of key issues the industry was seeking clarification on, says Naveen Aggarwal of KPMG India. However, the real test will be the on-ground implementation of assured safeguards. The notification leaves the issue subjective by stating that if a case of avoidance is sufficiently addressed by LoB, then GAAR would not be invoked.