Thiruvananthapuram | The Empowered Committee of state finance ministers on GST have reached a consensus on issues related to imports, registration and authorised GST network company to go ahead with preparation of IT platform for GST.
The two-day meet which ended here today also agreed to share the cost of GSTN by the states and Centre on 50 per cent basis. The modalities of payment by the states are to be decided by the sub-committee proposed to be constituted for this purpose, it was stated. Briefing reporters after the meeting here, GST Empowered Committee Chairman K M Mani said the meet have covered the agenda items most effectively.
We have considered the Report of the Committee on Innovative way of handling Inter State Transactions and GST on Imports. After detailed deliberations, we have approved the report and the recommendations made by the committee, he said. The meet considered the report of Joint Committee on Business Process Covering — Registration, Returns and Refund and approved the report on registration.
On returns and refund, he said the Empowered Committee requested the Joint Committee to review the reports after taking the suggestions from state finance ministers.
On IT platform, he said, We are confident that the required IT platform will be ready by the time GST is introduced. This is the most crucial work.
The Committee has transacted business covering all the agenda envisaged for the meeting. I am happy about the outcome of the meeting, he said. Mani said decisions on all pending issues would be arrived after deliberations among members. Several issues are there to be discussed. All these will be sorted out through consensus.
Addressing the meet before its conclusion, Kerala Chief Minister Oommen Chandy hoped that the GST would provide lasting solutions to the problems faced by the country to attract foreign direct investment. All issues will be sorted out amicably, so that the entire country can switch over to the new tax system of GST whole heartedly, he said.
Finance ministers from 15 states and secretaries and Commissioners of Commercial Taxes from all states were among those attended the meeting.
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