The Tamil Nadu government on Saturday constituted an Advisory Council to develop a Federal Fiscal Model under the Chairmanship of Arvind P Datar, Senior Advocate, Supreme Court of India.
The members of the council are K Vaitheeswaran, Advocate, Madras High Court; G Natarajan , Advocate, Madras High Court; Suresh Raman, Vice President and Region Head, Tata Consultancy Services; Srivats Ram, Managing Director, Wheels India Limited and K Velmurugan, President, Hosur Small and Tiny Industries Association.
While presenting the State budget for recently, the State Finance Minister PalanivelThiagaRajan announced that the government will establish such a Council with renowned experts on legislation involving revenue and taxation, including GST.
The Council’s terms of reference are to study the fiscal powers and State and the Union with special reference to GST; study the levy of Cesses and Surcharges by the Union and its impact on the State’s finances and to analyse the fiscal scenario of the State.
The Council will identify the problems with the institutional mechanisms that support GST, which include the independence of decision-makers and the constitution of the GST Tribunal and identify the compliance issues faced by the large Industries, MSMEs, service sector and consumers to bring them to the notice of the GST Council and identify the difficulties with respect to GST rates applied to various commodities.
The Council will also suggest strategies to improve GST collections and other taxes of the State; study the best practices adopted in other states with respect to GST including the use of technology and artificial intelligence to identify tax evasion and any other issues which, in the opinion of the Chairman, is relevant Union – State fiscal relations, says an order issued by State Finance Secretary N Muruganandam.
Support our journalism by subscribing to Taxscan AdFree. Follow us on Telegram for quick updates
