New Delhi, Dec 22 (IANS) The Goods and Services Tax (GST) Council on Saturday decided to form a seven-member Group of Ministers (GoM) to study anomalies in tax collection in some of the states which showed wide deviation from what was expected.
“The Council has approved the proposal to form a seven-member GoM to study the revenue trend, including analysing reasons for structural patterns affecting revenue collection in some of the states,” Finance Minister Arun Jaitley said after the meeting.
The study would include the underlying reasons for deviation from revenue collection targets vis-a-vis original assumptions discussed during the design of the GST system, its implementation and related structural issues, he said.
Jaitley said the GOM would be assisted by a committee of experts from the Central and state governments and the National Institute of Public Finance and Planning (NIPFP), who would study and share the findings with the GoM.
The GoM in turn would give its recommendation to the GST Council, he said. The members of the GoM and the committee of experts would be announced in due course of time.