Fi­nance Min­is­ter Seeks Sep­a­rate Paper on GST

The Economic Times - - Economy - OUR BUREAU

In an in­di­ca­tion of the im­por­tance the new govern­ment gives to the goods and ser­vices tax (GST), Fi­nance Min­is­ter Arun Jait­ley has asked the rev­enue depart­ment for a sep­a­rate pre­sen­ta­tion on the pro­posed tax re­form.

Ex­pen­di­ture, rev­enue and dis­in­vest­ment de­part­ments made pre­sen­ta­tions to the fi­nance min­is­ter on Wed­nes­day, a day af­ter the depart­ment of eco­nomic af­fairs had out­lined its agenda when Jait­ley took charge.

On Thurs­day, the rev­enue depart­ment will make a pre­sen­ta­tion on GST, am­bi­tious re­form of the in­di­rect tax regime that was to be launched from Jan­uary 1, 2010 but got stalled over the is­sue of com­pen­sa­tion to states for losses from the new regime and loss of fis­cal au­ton­omy.

The BJP had in its man­i­festo promised to ad­dress the con­cerns of states and roll out the GST. Of­fi­cials told ET that the new fi­nance min­is­ter was keen to meet with the state fi­nance min­is­ters to take dis­cus­sions on the GST for­ward.

Of­fi­cials of the cor­po­rate af­fairs min­istry on Wed­nes­day separately made a pre­sen­ta­tion to Nir­mala Sithara­man, who is also min­is­ter of state for fi­nance, apart from in­de­pen­dent charge of com­merce & in­dus­try min­istry.

Jait­ley is a cab­i­net min­is­ter with charge of fi­nance and cor­po­rate af­fairs min­istries, and additional charge of de­fence min­istry.

Both the Cen­tral Board of Di­rect Taxes (CBDT) and the Cen­tral Board of Ex­cise and Cus­toms (CBEC) made pre­sen­ta­tions to Jait­ley, a se­nior min­istry of­fi­cial said. Rev­enue depart­ment of­fi­cials un­der­lined the is­sues faced by their de­part­ments while CBDT out­lined its en­tire agenda of mod­erni­sa­tion. Cor­po­rate Af­fairs Sec­re­tary Naved Ma­sood also met the fi­nance min­is­ter. Jait­ley had on Tues­day said, “There will be club­bing. Cur­rently (cor­po­rate af­fairs) min­istry is un­der me. A no­ti­fi­ca­tion has to come,” he had said.

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