The reshuffle in the panel's composition comes in the wake of issues being raised by state governments regarding GST compensation.
The composition of the Group of Ministers (GoM) on Integrated Goods and Services Tax (IGST) has been changed by the Centre. The GoM will be examining the status of the IGST which reportedly remains unapportioned as of March end last year.
Finance Minister Nirmala Sitharaman has opted out of the ministerial panel, which will now be headed by Sushil Kumar Modi, Deputy Chief Minister of Bihar.
Several states have flagged concerns pertaining to pending share of GST dues, also claiming that the pending IGST amount had wrongly been used to pay compensation cess.
The states have pegged the pending dues at around Rs 50,000 crore. State representatives and finance ministers also met FM SItharaman earlier last week regarding the issue, the rpeport adds.
The reshuffle in the panel's composition comes in the wake of issues being raised by state governments regarding GST compensation. The GoM on IGST, which was constituted on December 4, had Sitharaman as its convenor, as per the earlier office of memorandum (OM).Sushil Modi also headed the seven-member committee which was constituted earlier this year to look into the matter of revenue shortfall witnessed by states following the GST rollout. The then panel was tasked with looking into the reasons behind the reported revenue collection shortfall while also suggesting suitable measures for revenue augmentation, as per a report in The Economic Times.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.