Moneycontrol
Last Updated : Jul 22, 2011 07:34 PM IST | Source: PTI

Govt to create a new technology platform for GST regime

The government today said it is working on a special IT platform for smooth implementation of the proposed Goods and Services Tax (GST) -- a new regime that will subsume various levies imposed by centre and states.


The government today said it is working on a special IT platform for smooth implementation of the proposed Goods and Services Tax (GST) -- a new regime that will subsume various levies imposed by centre and states.


The IT special purpose vehicle (SPV) christened as GST N (Network) will be owned by three stakeholders -- the centre, the states and the technology partner NSDL, Central Board of Excise and Customs (CBEC) Chairman S Dutt Majumder said while addressing a "National Conference on GST".


GST can not be implemented unless it is supported by robust IT infrastructure, he said, adding "There will be a SPV, call it GST N(Network), to provide interface with which all the taxpayers and the three stakeholders would interact."


Finance Minister Pranab Mukherjee, in his speech for Budget 2010-11, had made a case for creation of Information Technology infrastructure for improving tax administration.


"...creation of IT projects that are reliable, secure, and efficient is the need of the hour for an effective tax administration and financial governance system," the Minister had said.


Majumder said the GST amendment bill, pending before Parliament, was likely to be taken up for consideration and passage in the winter session.


On the possibility of rolling out GST from April 1 next year, he said, "There was no need for alarm if GST was not rolled out in April 1, 2012."

The introduction of GST regime has been pending for four years due to differences between the centre and some states over the structure of the new tax regime.

First Published on Jul 22, 2011 07:13 pm
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