Related Topics: Indian Economy, Goods & Services Tax (GST)
- With a monthly collection of Goods & Services Tax (GST) dipping to a 19-month low, the GST Council Secretariat has announced setting up of a committee to augment collections and improve administration.
- This development took place ten days after the collection for September 2019 was found to dip to ₹91,916 crore, the lowest after February 2018.
- The Government has set a target of collecting over ₹1 lakh crore every month during the current fiscal.
- The new committee will have 12 members — five from the States and five from the Centre beside Joint Secretary of GST Council and Executive Vice President of GST Network (GSTN).
- Officers from the Centre will include Joint Secretary (Revenue), Principal Commissioner (GST PW), Joint Secretary (Tax Research Unit), Additional Director General (ARM) and Additional Director General (Systems).
- SGST (State Goods & Services Tax) Commissioner from Maharashtra, Tamil Nadu, Uttar Pradesh, West Bengal and Punjab will represent the States.
- As per the order issued by GST Council Secretariat, any other State could also join the committee on a voluntary basis.
Terms of Reference
- The terms of reference of the panel include making suggestions about systemic changes in goods and services tax (GST) including checks and balances to prevent misuse and measures to improve voluntary compliance.
- It has been tasked to give inputs on measures for the expansion of the tax base.
- Policy measures and relevant changes needed in the law, improved compliance monitoring and anti-evasion measures using better data analytics and better administrative coordination also form part of its terms of reference.
[Source: The Hindu, Business Standard]