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Business Economy

GST Law Review Committee working on robust dispute resolution mechanism: CBIC

GST Law Review Committee working on robust dispute resolution mechanism: CBIC

New Delhi, Nov 29 (UNI) The GST Law Review Committee is working on a robust dispute resolution mechanism, a top Central Board of Indirect Taxes and Customs official said at an ASSOCHAM event in the Capital on Friday.

'There is no solution when a dispute is decided at the original level, I also do fully agree that is a pretty serious situation because any system whether it is civil, criminal or taxation, there has to be a situation by which a robust dispute resolution mechanism should be put in place, if it is not there then there are issues,' said Dr John Joseph, member (tax policy), CBIC at the seminar on Recent Developments under GST regime.

Dr Joseph added,'There has to be a method by which we should be able to move forward, in most of the council meetings this issue comes up. Definitely we will come out with a solution, so far we have not been able to move forward, so I can assure you that something will definitely happen on that too also. I can assure you that solution will not be delayed in coming, it will be coming shortly.'

Talking about the new initiatives that government would come out with, he said a new electronic invoicing system is going to come in.

He said, 'We have found that in VAT and service tax era people used to be taking credit and trying to run away but in the digital era with all the technology in our hand, it would be easy to spot people who are non-compliant. It helps both ways, it helps the government to control the fake credit that is available in the system and it also gives discipline to the industry and the trade.'

He further said that it would bring in extremely good discipline as far as trade and industry is concerned and the way movement of goods and the way cash transactions takes place.

“That is what the government’s basic idea is too because we are moving in the digital economy to the extent possible. To see that people do things in a transparent, clean and clear cut way and for that extent, this way that we are looking into e-invoicing, reduction of the credit i.e. the way credit has been curtailed to 20 per cent, those things we are trying to do basically,” said the CBIC official.

Noting that GST implementation in India stands out compared to other countries where it has been implemented, Dr Joseph said that GST has taken rates below revenue neutral level.

“Most of the countries where GST has been implemented, inflation has gone up generally, but in this country, it has actually come down because if you look at the way tax has been designed, on the revenue neutral rate (RNR) we have actually given away almost Rs 1.5 lakh crore back to the people, the rates are almost down compared to the total average weighted VAT and the excise, service tax revenue put together, that is one area by which the inflation could be checked into also,” he said.

He also said that this is the only time, a government which implemented GST came back to power though all over the world, wherever it happened, the dispensation which has been controlling has always lost the next election after GST’s introduction.

“The states and Centre have jointly moved together so fast, have adapted so well. We have been able to see that we are attuned to the problems of industry and trade and to see that everything that comes in to the extent possible will be rectified at the shortest possible time. That must be the reason, why we have been able to hold on to this one and the government also was able to come back to power,” said Dr Joseph.

Amid others who addressed the seminar under the aegis of the Associated Chambers of Commerce and Industry of India included – Mr Anand Kumar Tiwari, additional commissioner, Department of Trade & Taxes, Govt. of NCT of Delhi; Dr Tejpal Singh, principal commissioner, CGST & CX, Delhi-South; Mr Sudipta Bhattacharjee, partner, Advaita Legal; Mr N. Mathivanan, principal partner, Lakshmikumaran & Sridharan and Ms Anita Rastogi, Partner, PwC.

UNI RP1952

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