Law review panel to take final call on GST suggestions: Finance Ministry

Recommendations of an advisory group on GST have been referred to the Law Review Committee for a final view, the finance ministry today said.

The next meeting of the Law Review Committee is due on Wednesday and Thursday.

Consequent on the decision taken at the 23rd Goods and Services Tax (GST) Council meeting, the Law Review Committee and the Advisory Group of the Law Review Committee were both constituted on November 2.

According to CAIT General Secretary and member of the panel PraveenBSE 5.00 % Khandelwal, the group had suggested several changes in the new indirect tax regime with a view to simplifying procedures and ensuring automatic refund of taxes.

The panel has made over 100 recommendations on GST.

“The recommendations of the Advisory Group have been referred to the Law Review Committee, consisting of senior officers of central and state governments, which, in turn, will examine these recommendations and take a final view,” the ministry said.

The Advisory Group submitted its recommendations on December 5. It is headed by a retired government official and consists of representatives from Laghu Udyog Bharti, Federation of Indian Export Organisations (FIEO), Confederation of All India Traders (CAIT) and private law and tax practitioners.

Some of the other recommendations by the panel include automation of refund process, simpler procedure and its rationalisation, allowing revision in returns, and formation of a National Advance Ruling Authority, Khandelwal said. NKD ARD

source:https://economictimes.indiatimes.com/news/economy/policy/law-review-panel-to-take-final-call-on-gst-suggestions-finance-ministry/articleshow/61989102.cms

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