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Government is committed to roll out GST from April 1, 2016: CBEC member
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Ashwani Maindola, New Delhi
July 22 , 2015
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The government remains committed to rolling out the Goods and Services
Tax (GST) from April 1, 2016, and currently a Central GST law and a
model legislation for the states were being drafted to levy GST on
intra-state and inter-state supplies and imports, according to V S
Krishnan, member, service tax and GST, Central Board of Excise and
Customs (CBEC), ministry of finance, in an interface with media at FICCI
Federation House here recently.
The GST Council would be
constituted after the enactment of the Constitution Amendment Bill which
is currently with the Select Committee of the Rajya Sabha and the Bill
is likely to be taken up for voting in Parliament’s current Monsoon
Session.
Krishnan added that the reports of various
committees-sub-committees on place of supply rules, IGST model and
business processes relating to registration, refunds, returns &
payments were awaiting approval.
He stated that the issues under
discussions were rates of CGST, IGST & SGST; threshold limits of
exemptions & compounding; list of exempted goods & services;
transitional provisions for treatment of accumulated CENVAT credit;
dispute resolution mechanism; distribution of responsibility between
Centre & state in implementing the three pillars of the compliance
verification system – Return Scrutiny, Audit and Anti-evasion.
Meanwhile,
Navin Kumar, chairman, GST Network (GSTN), observed, “The GST Automated
System will be one-stop-shop for the key needs of taxpayers of the
entire nation. The mandate of GSTN is to provide shared IT
infrastructure and services to Central and state governments and
taxpayers for implementation of GST.” He added that implementation of
GST needed a strong IT infra and services backbone, which enabled
capturing, processing and exchanging of information amongst stakeholders
(taxpayers, state, Central government, banks and RBI).
Kumar
points out that GST rollout strategy provides two options to the state
governments for creating GST infrastructure. In the first model,
states/CBEC would develop their own backend modules and exchange data
with GST common portal using APIs over a secured network. In the other,
GSTN would develop backend modules for states and host the same at
central data centre location. Thirteen states have exercised the option
to use the backend systems of GSTN.
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