Govt sets up panels to facilitate GST rollout

2 committees to focus on tax, IT readiness

Govt sets up panels to facilitate GST rollout

The government on Wednesday set up two high-level committees to facilitate implementation of Goods and Services Tax (GST) from the set date of April 1, 2016.

 A committee led by Chief Economic Advisor Arvind Subramanian will recommend possible tax rates under GST that would be consistent with the present level of revenue collection of the Centre and states.

While making recommendations, this committee would take into account expected levels of growth of economy, different levels of compliance, and broadening of tax base under GST. It would also analyse the sector-wise and state-wise impact of GST on the economy, a finance ministry statement said.

Another committee under the co-chairmanship of Additional Secretary, Department of Revenue and member secretary, Empowered Committee of state finance ministers, shall monitor the progress of IT preparedness of GST tax network/CBEC/tax authorities.

It will also look into finalisation of reports of all the sub-committees constituted on different aspects relating to the mechanics of GST and drafting of CGST, IGST and SGST rules, the statement said. Both the committees will submit their reports in two months.
Goods and Services Tax Network (GSTN) is taking steps for preparing the IT infrastructure for the GST rollout.

The IT infrastructure shall enable online registration, filing of returns, and getting refunds. Various state governments are also preparing the necessary back-end IT infrastructure for implementation of GST which shall relate to aspects like assessments and audit, the statement said.

Periodic reviews are being held in the Department of Revenue to monitor the progress of all the above activities.

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