Goods and Services Tax – GST Dated:- 7-1-2020 – News – The 2nd National GST Conference of the Commissioners of State Tax and Chief Commissioners of Central Tax was held here today under the chairmanship of Dr Ajay Bhushan Pandey, Revenue Secretary, Ministry of Finance. The multi-faceted Conference was focused on brainstorming session for streamlining Goods and Services Tax (GST) system and plugging revenue leakages. This was the 2nd edition of all India Conference where both tax administrations came together formally to build synergy and to share their knowledge and best practices with intent to bring about uniformity in tax administrations. During the Conference, deliberations were held on a mechanism and machinery for disseminating inter-departmental data among various agencies like GSTC, CBDT, CBIC, FIU, DoR, DGGI and State Tax Administrations etc. in order to achieve efficiency in curbing evasion and augment revenue collection. Various pre
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measures were decided for necessary action: 1. To constitute a Committee of Centre and State officers to examine and implement quick measures in a given time frame to curb fraudulent refund claims including the inverted tax structure refund claims and evasion of GST. The Committee will come out with detailed SoP within a week, which may be implemented across the country by January end. 2. Considering fraudulent IGST refund claims, it was explored to link foreign exchange remittances with IGST refund for risky and new exporter. 3. All major cases of fake Input Tax Credit, export/import fraud and fraudulent refunds shall also be compulsorily investigated by investigation wing of the Income Tax Department. 4. MoU would be signed among CBDT, CBIC and GSTN to exchange data through API, from CBDT to GSTN and CBIC and vice-versa. It was decided that this data should be shared on quarterly basis, instead of being shared on yearly basis. 5. To explor
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n their respective tax administrations. Later Gujarat and Andhra Pradesh also presented the best practices adopted by them. The approach of strengthening enforcement through data exchange, sharing knowledge and best practices for a common national goal that leads to enhanced compliance management and revenue augmentation and at the same time ensuring that genuine taxpayers are not harassed was welcomed by all. All Chief Commissioners of Central Tax Zones, State Commissioners of State Taxes, Directors General of CBIC, members of CBIC, Chairman, CBDT along with his team of Senior officers, Director of FIU-India along with his team of Senior officers, senior officers of the CBIC and Department of Revenue, technical team of GSTN led by EVP GSTN and officers from the GST Council Secretariat etc. participated in the Conference. **** RM/KMN – News – Press release – PIB Tax Management India – taxmanagementindia – taxmanagement – taxmanagementindia.
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