The Government of India (GoI,) on the 10th of October, constituted a committee to review Goods and Service Tax (GST) collection and administration.
The officers of the committee will suggest measures regarding the GST revenue collection in India.
The GoI released an official order regarding this, which reads, “The committee should consider a wide range of reforms so that a comprehensive list of suggestions may emerge.”
The 12 member committee will review the balances collected by the GST, the measures to prevent the misuse of the collected revenue, improve voluntary compliance and boost the economic growth with overall compliance.
The committee will also suggest measures and steps to enhance the tax base collection by resetting the charges and tax rates on goods and services.
The Prime Minister Narendra Modi led Bharatiya Janata Party (BJP) Government constituted the committee to make India better in the economy sector. The announcement was made during a meeting on the 10th of October. Government officials, Cabinet Ministers and other officials of the Finance Department were present during the meeting.
The reason to constitute the committee is the low GST collection in the past two years. The GST collection of September 2019 is the lowest since February 2018. The GST collection of September fell by 2.67 % to Rs. 91,916 crores. In August 2019, the collection was Rs. 98,202 crores.
The constituted committee is expected to submit its first review report in 15 days to the GST Council Secretariat.
Stay tuned for further updates.
