Govt constitutes committee to suggest measures to augment GST revenue
Government has constituted a committee of officers to suggest measures to augment Goods and Services Tax revenue. The panel comprising state-level GST commissioners and central government officials has been asked to suggest urgent measures to arrest the fall in tax revenues and suggest steps to be taken to improve revenue collection.
In an order, Finance Ministry said, the committee has been asked to consider a wide range of reforms so that a comprehensive list of suggestions may emerge. The panel has been asked to look into systemic changes in GST including checks and balances to prevent misuse, measures to improve voluntary compliance as well as policy measures and changes in law needed.
The panel comprises state GST commissioners of Maharashtra, Tamil Nadu, Uttar Pradesh, West Bengal and Punjab besides central government officials including Principal Commissioner of GST and Joint Secretary (Revenue). The move came in the backdrop of decrease in GST collections in September.