Representational image. File photo The Centre will soon notify rules to set up GST appellate tribunals and appoint members after approval from the GST Council, a senior CBIC official said on Monday.“We are not following a Big Bang approach, we are working in a calibrated manner. We are in the process of taking more trade-friendly steps. We are in the process of notifying the rules after approval of the Council.“We will have to set the manpower, and institutions in place. We are hopeful it will be done sooner,” Central Board of Indirect Taxes and Customs (CBIC) member (GST) Shashank Priya said at a Ficci event.The council will also approve the work experience and qualifications of members of the tribunal.In March, Parliament had cleared changes in the Finance Bill to pave the way for setting up the appellate tribunals.There will be benches of the tribunal in every state, with a Principal Bench in Delhi which will hear appeals related to ‘’place of supply’’.Currently, taxpayers move the high courts against any GST ruling.The resolution process takes a longer time as the high courts are already burdened with a backlog of cases and do not have a specialised bench to deal with GST.Setting up of state and national-level benches would pave the way for faster dispute resolution.Tax basePriya said the department was working to expand the taxpayer base and doing data triangulation with the income tax department on corporate taxpayers.The move to widen the tax net comes at a time the Centre is chuffed by the 12 per cent jump in GST collections in June — with collections over the past four months consistently topping Rs 1.5 lakh crore.The move to triangulate date indicates glaring cracks in the system that haven’t been resolved to date – more than five years after the Modi government launched its biggest tax reform in July 2017.As per data, currently, only 40 per cent of the corporate income taxpayer base is also registered under GST.Priya said the board has detected 45,000 fake GST registrations involving evasion of Rs 13,900 crore. The officers have also blocked the wrongful availment of ITC (input tax credit) worth Rs 1,430 crore.Modi also said that some countries use cross-border terrorism as an instrument of their policy and the grouping must not hesitate to criticise them

New Delhi: The Centre will soon notify rules for setting up GST appellate tribunals and appoint members after approval from the GST Council, a senior CBIC official said on Monday.Central Board of Indirect Taxes and Customs (CBIC) member (GST) Shashank Priya said the department is working to expand the taxpayer base and doing data triangulation with the corporate taxpayers in income tax regime. As per data, currently, only 40 per cent of the corporate income taxpayer base is also registered under GST. As many as 1.39 crore businesses are registered under GST, almost double of the number when GST was launched six years ago on July 1, 2017. Goods and Services Tax (GST) revenue buoyancy, which was 1.25 after introduction of the indirect tax regime in 2017, has risen to 1.40 in the last two years. Average monthly GST revenue increased from Rs 89,885 crore in 2017-18 to Rs 1.50 lakh crore in 2022-23. In 2023-24, the average revenue stands at Rs 1.69 lakh crore per month. “We are not following a Big Bang approach, we are working in a calibrated manner. We are in the process of taking more trade-friendly steps,” Priya said. “We are in the process of notifying the rules after approval of the Council. We will have to set the manpower, institutions in place. We are hopeful it will be done sooner,” Priya said addressing Ficci’s GST conclave. The council will also approve the work experience and qualifications of members of the tribunal. In March, Parliament had cleared changes in the Finance Bill to pave the way for setting up appellate tribunals for resolution of disputes under GST. As per the plan, benches of the tribunal would be set up in every state while there will be a Principal Bench in Delhi which will hear appeals related to ‘place of supply’. Currently, taxpayers aggrieved with ruling of tax authorities are required to move the respective High Courts. The resolution process takes longer time as High Courts are already burdened with backlog of cases and do not have a specialised bench to deal with GST cases. Setting up of state and national-level benches would pave the way for faster dispute resolution. Priya said there are some businesses who have misused the registration process and now the CBIC is working to tighten the registration process and use information technology to catch fraudsters. He said 45,000 fake GST registration involving evasion of Rs 13,900 crore is under scanner in the ongoing two month long drive by central and state tax officers to catch fake registration. The officers have also blocked wrongful availment of ITC worth Rs 1,430 crore. © Copyrights 2022. All rights reserved. Powered By Hocalwire

Parliament had cleared changes in the Finance Bill to set up tribunals in MarchThe Centre will soon notify rules for setting up GST appellate tribunals and appoint members after approval from the GST Council, a senior CBIC official said on Monday. Central Board of Indirect Taxes and Customs (CBIC) member (GST) Shashank Priya said the department is working to expand the taxpayer base and doing data triangulation with the corporate taxpayers in income tax regime. As per data, currently, only 40 per cent of the corporate income taxpayer base is also registered under GST. As many as 1.39 crore businesses are registered under GST, almost double of the number when GST was launched six years ago on July 1, 2017. Goods and Services Tax (GST) revenue buoyancy, which was 1.25 after introduction of the indirect tax regime in 2017, has risen to 1.40 in the last two years. Average monthly GST revenue increased from Rs 89,885 crore in 2017-18 to Rs 1.50 lakh crore in 2022-23. In 2023-24, the average revenue stands at Rs 1.69 lakh crore per month. "We are not following a Big Bang approach, we are working in a calibrated manner. We are in the process of taking more trade-friendly steps," Priya said. "We are in the process of notifying the rules after approval of the Council. We will have to set the manpower, institutions in place. We are hopeful it will be done sooner," Priya said addressing Ficci's GST conclave. The council will also approve the work experience and qualifications of members of the tribunal. In March, Parliament had cleared changes in the Finance Bill to pave the way for setting up appellate tribunals for resolution of disputes under GST. As per the plan, benches of the tribunal would be set up in every state while there will be a Principal Bench in Delhi which will hear appeals related to 'place of supply'. Currently, taxpayers aggrieved with ruling of tax authorities are required to move the respective High Courts. The resolution process takes longer time as High Courts are already burdened with backlog of cases and do not have a specialised bench to deal with GST cases. Setting up of state and national-level benches would pave the way for faster dispute resolution. Priya said there are some businesses who have misused the registration process and now the CBIC is working to tighten the registration process and use information technology to catch fraudsters. He said 45,000 fake GST registration involving evasion of Rs 13,900 crore is under scanner in the ongoing two month long drive by central and state tax officers to catch fake registration. The officers have also blocked wrongful availment of ITC worth Rs 1,430 crore.📣 The Week is now on Telegram. Click here to join our channel (@TheWeekmagazine) and stay updated with the latest headlines*Articles appearing as INFOCUS/THE WEEK FOCUS are marketing initiativesCopyright © 2023 All rights reserved