New Delhi [India], Oct 10 (ANI): The government on Thursday set up a high-level committee of officers to look into Goods and Services Tax (GST) revenue shortfall being faced by states and suggest measures for increasing collections.
It will submit its first report within 15 days. "The committee of officers from the Centre and the states is required to suggest steps to be taken to improve revenue," according to an official statement released by the GST Council Secretariat.
The 12-member panel -- with commissioners from state GST council of Maharashtra, Tamil Nadu, Uttar Pradesh, West Bengal and Punjab -- has been formed by the GST Council to look into revenue shortfall being faced by the states post implementation of GST.
"Any other states which would like to join the committee may volunteer by writing to the GST Council Secretariat," the GST Council stated.
The committee has been tasked with suggesting measures to boost GST collections, to make businesses comply with GST voluntarily and suggest ways for better administrative coordination.
It will look into issues such as systematic changes in GST to prevent misuse, measures for expansion of tax base, improved compliance monitoring and anti-evasion measures using better data analytics and better administrative coordination.
The committee will also suggest measures to improve voluntary compliance, policy measures and relevant changes in the law.