Group of Ministers formed to suggest GST system reforms

3 weeks ago

GST CouncilThe GoM will submit its recommendations to the Council from time to time. (Representative image)

The Union finance ministry has constituted an eight-member Group of Ministers (GoM), led by Maharashtra deputy chief minister Ajit Pawar, to identify potential sources of goods and services tax (GST) evasion and suggest changes in business processes and IT systems to plug revenue leakage.

It will also identify possible use of data analysis towards better compliance and revenue augmentation, and suggest a mechanism for better coordination between central and state tax administrations and tax administrations of different states.

The GoM will submit its recommendations to the Council from time to time. Another GoM has been constituted to look at rationalisation of the GST rate structure.

However, its mandate might not cover the issue of assured GST shortfall compensation beyond the current five-year period ending in June 2022.

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