CAIT hails govt for forming high power National GST Consultation Committee

New Delhi, Feb 10 (KNN) In view of simplification and rationalisation of GST tax structure which remained one of the core demand of the Confederation of All India Traders (CAIT), under the directions of the Ministry of Finance, a high level Consultation Committee has been constituted in GST Network having representatives of trade & industry, Institutions, experts, CBIC officials, representatives of few State Governments and nominees from GSTN, the traders' apex body said.

The Committee will provide feedback and suggestions on new functionalities in GST system and adoption of new IT Tools.

CAIT Secretary General Praveen Khandelwal who is also a member of the Committee while welcoming the formation of such Committee said that in order to secure view point of last mile trader and to encourage more easy compliance of GST tax structure and to widen the tax base under GST, it will be most appropriate if similar Committees are also formed at State and District level.

"It's a positive step of the Union Government which reflects its attention to have a flexible view in simplifying and rationalising the GST taxation system so that even an ordinary trader can comply with GST," CAIT said.

Khandelwal informed that beside CAIT, representatives from ASSOCHAM, FICCI, PHD Chamber, NASSCOM, Laghu Udyog Bharti and Rajasthan Tax Consultant Association have been taken as members. Further, The Institute of Chartered Accountants of India,The Institute of Company Secretaries of India, The Institute of Cost Accountants of India, tax experts have also been given representation in the Committee.

Executive Vice President (Services) of GSTN will be the Member Secretary of the Committee.

The terms of reference to the Committee includes provide feedback when significant changes have been brought in the system or when such changes in business process are contemplated, provide suggestions on new functionalities and new tools required, provide feedback procedures and processes from the point of view of tax payers and tax consultants. The recommendation of the Committee will be mainly in two parts, one relating to technology and the other relating to policy.

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