<h1>Union Cabinet Approves Tax Administration Reform Commission to Enhance India's Tax System with Global Best Practices.</h1> The Union Cabinet approved the establishment of the Tax Administration Reform Commission (TARC) to enhance India's tax system. The Commission will include a Chairman, two full-time members, and four part-time members, with at least two from the private sector. It will operate for 18 months, reviewing tax policies and laws in line with global best practices. The aim is to clarify tax policy applications, create a stable and non-adversarial tax regime, and expand the tax base. This initiative follows the Finance Minister's 2013-14 Budget Speech, emphasizing the need for a globally competitive tax system.