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NSSO to estimate GST taxpayer base
With the cloud over the rate
structure for the goods and services tax (GST) still prevailing, the empowered
committee of state finance ministers has roped in the National Sample Survey
Organisation (NSSO) to help estimate the taxpayer base for GST. Once the
taxpayer base is established, the committee can arrive at revenue-neutral rates
by extrapolating the revenue targets. |
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Asim
Dasgupta, chairman of the empowered committee of state
finance ministers, met officials from the NSSO and the
finance ministry on Monday to discuss the issue. “This
was an internal meeting with the finance ministry and
NSSO officials to discuss the goods and services tax,”
Dasgupta told FE.
Officials said the meeting focused on finalising the
methodology for calculating revenue-neutral rates. This
is the second time in a month that Dasgupta has met
finance ministry officials on the issue.
GST is expected to have a dual structure, with multiple
rates on goods at both the central and state levels.
Officials said the two rates being considered are 8-10%
for the lower slab and 16-18% for the higher slab. In
addition, states will levy a 1% tax on precious metals.
The GST is expected to have a threshold of an annual
turnover of Rs 10 lakh.
In the absence of a consensus on the rate structure, the
empowered committee of state finance ministers has
postponed its meeting with finance minister Pranab
Mukherjee to November 10. The committee was scheduled to
meet Mukherjee on Tuesday to discuss the final roadmap
for the levy. Now, state finance ministers will meet on
October 30 to finetune the GST model and review the
draft paper.
While Dasgupta refused to comment on the issue,
officials said the meeting was postponed as there is
still no consensus on GST and the roadmap has not yet
been finalised. “There are still a lot of issues in GST
that have to be decided, apart from the ongoing
electoral process in a few states. Therefore, the
committee has decided to postpone meeting with finance
minister to next month,” an official said.
Source
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Financial Express, India, dated 27/10/2009 |
