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The Empowered Committee of Finance Ministers on Goods and Services Tax (GST) feels confident that the required IT platform would be ready by the time GST is introduced.
“We have considered the progress and action plan of GST Network Company (GSTN) as presented by the chairman and CEO of GSTN,” a statement issued at the end of the two-day meeting here said. This is the most crucial work with respect to the rollout of GST from April next, the committee noted. This is time-bound, and work ‘needs to be started somewhere,’ the committee felt.
So the committee authorised GSTN to go ahead with the work based on reports presented on the second day and those discussed the previous day. Small changes, if needed, may be suggested after receipt of the revised reports. GSTN can always tweak the IT platform to incorporate the changes.
In this context, the committee reviewed the progress and action plan of GSTN as presented by its chairman and CEO. It has also agreed to share the cost of GSTN by States and the Centre on a 50-50 basis. Modalities of payment by States are to be decided by a sub-committee to be constituted for the purpose.
Meanwhile, the committee considered the report of the joint committee on business processes covering registration, returns and refund. It approved the report on registration. Those on returns and refund were discussed.
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