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Govt sets up committee for GST revenue augmentation

Business Today logo Business Today 3 days ago
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The government on Thursday set up a high-level committee of officers to look into revenue shortfall being faced by the states and suggest measures for augmenting collections, according to an official statement.

"The committee of officers from the centre and the states is required to suggest steps to be taken to improve revenue," GST Council Secretariat notified on Thursday.

The panel has been formed by the GST Council to look into revenue shortfall being faced by the states post implementation of the Goods and Services Tax (GST).

The 12-member panel, which will have five members from Centre and States each, will submit its first report within 15 days to the GST Council Secretariat. The committee has Commissioners from state GST council of Maharashtra, Tamil Nadu, Uttar Pradesh, West Bengal, Punjab along with Joint Secretary & Executive VP of GST Council.

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The committee has been tasked with suggesting measures to boost GST collections, to make businesses comply with GST voluntarily, ways to better administrative coordination.

The committee will look into the issues such as systematic changes in GST to prevent misuse, measures for expansion of tax base, improved compliance monitoring and anti-evasion measures using better data analytics and better administrative coordination.

It will also suggest measures to improve voluntary compliance, policy measures and relevant changes in the law.

"Any other states which would like to join the committee may volunteer by writing to the GST Council Secretariat," GST Council stated.

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(Video provided by Bloomberg)

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