The Comptroller and Auditor General (CAG) of India is conducting a performance audit of Goods and Service Tax (GST) execution – after merging 17 indirect taxes – and will soon release the report.
This might be scheduled in Parliament by 11 December 2018 as per the sources. Currently, the CAG is assessing the implication and impact of GST since its inception on 1 July 2017.
The audit report is expected to include registration, recordkeeping, reimbursement, input tax credit, transition credit mechanism, ease of payment of taxes and finally its effect on the transactions.
The CAG team has met with the GST Commissionerate in almost every state to shed further light on the GST operations. The report will widely cover inputs on the efficiency of the new indirect tax system directly from the horses’ mouths.
Touted as one of the most significant tax reforms in independent India, GST’s ride has been understandably bumpy in the beginning. The main challenge for the GST Network was to handle the last minute filing rush every month.
The CAG is also looking at programmes, structures and activities to see if they are ethically at par and to explore the scope for improvement. Their aim is not to check the revenue – just to
review the implementation bit.