GST reform: Centre sets up panel to suggest ways to raise revenue, gives it 15 days to submit report
In September, GST revenue dropped for the second consecutive month to a 19-month low of Rs 91,916 crore.
The Centre on Thursday constituted a committee of officers to suggest measures to raise Goods and Services Tax revenue collection, PTI reported. In September, revenue from GST dropped for the second consecutive month to a 19-month low of Rs 91,916 crore.
According to an order issued by the GST Council Secretariat, the committee has to “consider a wide range of reforms so that a comprehensive list of suggestions may emerge”. They have been asked to submit their first report within the next 15 days.
A six-point agenda listed in the order asked officials to suggest ways to carry out systemic changes in the tax system, including checks and balances to prevent misuse, and suggest measures to improve voluntary compliance and compliance monitoring to check evasion, expand tax base, better administrative coordination, and suggest relevant changes needed in the law.
The committee will have commissioners from Maharashtra, Tamil Nadu, Uttar Pradesh, West Bengal, and Punjab. The joint secretary and executive vice president of the GST Council will also be part of the panel.
In light of falling #GST revenues, the GST Council Secretariat has set up a committee of Central and State tax officers to look into "wide ranging reforms" to boost revenue collection. The focus will be on improving compliance and clamping down on misuse. @the_hindu pic.twitter.com/F2zvc16Bpj
— TCA Sharad Raghavan (@SharadRaghavan) October 10, 2019
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