In September, GST revenue collections dipped to a 19-month low reflecting the drastic economic slowdown. The government has set up a high-level panel to address the revenue shortfall the states are experiencing after the implementation of GST.
The 12-member panel will be responsible for recommending measures to increase revenue collection and to improve administrative coordination. A senior official has mentioned that the committee will be holding its first meeting on 15 October (Tuesday).
The panel comprises 12 members — five from the Centre and five from the States along with the Joint Secretary of the GST Council and the Executive Vice President of GSTN. The government has asked the 12-member committee to submit a report within 15 days to the GST Council Secretariat.
The committee consists of Commissioners who belong to the state GST Council of Tamil Nadu, Maharashtra, Uttar Pradesh, Punjab, West Bengal, along with the Joint Secretary and the Executive Vice President of the GST Council. The GST Council has mentioned that in case any other states intend to be part of the panel, they can choose to volunteer by sending a written request to the GST Council Secretariat.
The panel will be responsible for suggesting measures to expand the tax base and to improve compliance monitoring. The committee will have to recommend anti-evasion measures with the help of enhanced data analytics and improved administrative coordination. Also, it will be responsible for suggesting initiatives for improving policy measures, voluntary compliance, and for bringing in the required changes in the law.
For any clarifications/feedback on the topic, please contact the writer at email@example.com
Bhavana is a Senior Content Writer handling the GST vertical. She is committed, professional, and has a flair for writing. When away from work, she enjoys watching movies and playing with her son. One thing she can’t resist is SHOPPING! Her favourite quote is: “Luck is what happens when preparation meets opportunity”.