Across Scotland's private and public sectors, the commission's report was praised as a thorough piece of work.
But for some it has gone further than they would be prepared to support or endorse.
CBI Scotland said it had "deep reservations" about the tax proposals, raising concerns that there will be no upper limit to the Scottish rate of income tax and claiming employers' PAYE compliance costs will be increased throughout the UK.
Crucially, it insists that while the UK economy is in a recession it is not the right time to implement these changes.
Chairman David Thorburn said: "If the UK Government and the Scottish Parliament accept Calman's proposals, it will be vital that implementation is carried out at a time when the economy is more stable and business is better placed to afford the costs involved. Any changes will also need to be phased in with great care."
Mr Thorburn added: "We are very pleased that the principal business taxes that affect our members, such as corporation tax, will remain reserved and continue to be applied uniformly across the UK. On those other aspects of devolution, we are broadly content with the proposals."
The Scottish Council for Development and Industry said it supported the core principle of greater responsibility and accountability of government here in Scotland, insisting Holyrood ministers must be responsible for raising a greater part of their revenue, and be given proper incentives to grow the economy in order to fund services.
Dr Lesley Sawers, chief executive of SCDI, which draws its membership from Scottish business, trade unions, public agencies, educational institutions, local authorities, and the voluntary sector, said: "The debate on borrowing powers is crucial to Scotland's capital investment programme, especially with the projected cost of the new Forth Road Bridge. We now want to see the introduction of a practical borrowing mechanism to allow the Scottish Government to invest in Scotland's future economic growth."
The Scottish Trades Union Congress also gave an early welcome to the commission's findings.
General secretary Grahame Smith said: "The proposals on income tax and a number of smaller taxes represent a major shift for Holyrood in terms of both fiscal power and financial accountability.
"The STUC has also long argued for an extension of the Scottish Parliament's borrowing powers and is delighted to see this included in the proposals."
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