New Delhi, Dec 29: At a time when reforms both in the direct and indirect taxes areas are likely to be in place in the next couple of years, the 13th Finance Commission will submit its recommenda¬tions on sharing of the Central tax receipts between the Union and the states, tomorrow.
Commission Chairman Vijay Kelkar would submit the report, making recommendations on the devolution of the taxes between the Centre and the states to President Pratibha Patil tomorrow, official sources said today.
The report assumes importance as the new indirect tax regime-- Goods and Services Tax (GST) --is scheduled to be implemented from next fiscal, and the new Direct Tax Code (DTC) is likely to come into effect from 2011.
The Commission was appointed in November 2007, with the mandate to review the finances of the Union and the states, and sharing of the net proceeds of the taxes between the two.
The recommendations will cover the next five-year period com¬mencing April 1, 2010.
The President will give the report to the Government and the Finance Ministry would then take it up with the Cabinet, which will adopt it, and later the report is likely to be tabled in the Budget ses¬sion of Parliament, the officials said.
In September, the Government had extended the term of the Commission by three months up to January, 2010. It was earlier required to submit its report by October 31, 2009.

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