Union Finance Minister Nirmala Sitharaman on Tuesday said that steps were being taken for simplification of GST. She also said that the Revenue Secretary was brainstorming with officers from different parts of the country over ways to simplify the Goods and Services Tax.
Revenue Secretary Ajay Bhushan Pandey held a day-long brainstorming session on Tuesday with Commissioners of State and central taxes. The aim of the discussion was how the Goods and Service Tax (GST) system could be streamlined for faster refunds, enhanced compliance, and discourage tax evaders.
"Whatever issues are there with GST and wherever there is a requirement of simplification, under the chairmanship of Revenue Secretary, a program is underway today where officers from across the country are exploring the ways and means to simplify GST. Revenue Secretary himself is there at the event", Sitharaman said while addressing traders.
She was addressing the National Traders Convention of Confederation Of All India Traders, CAIT in New Delhi.
The Revenue Secretary's meet on Tuesday deliberated on a mechanism and machinery for the dissemination of inter-departmental data among the various agencies. It was attended by senior officers of the Central Board of Indirect Taxes and Customs, the Central Board of Direct Taxes, the Financial Intelligence Unit (FIU), the Directorate General of Analytics and Risk Management (DGARM), GSTN officials and field officers from enforcement wings.
Forging India's investment plan for 2020, Finance Minister Nirmala Sitharaman, on Tuesday, announced the Investment task force has identified infrastructure projects worth 102 lakh crore for the next 5 years, at the year-ending Finance Ministry press briefing. The task force which was formed in August has consulted with 70 stakeholders to identify the key projects, said the Finance Minister. Highlighting the key areas of investment areas, Sitharaman listed - Power - including renewable, railways, agriculture, irrigation, mobility, health, water, and digital sector.
(With Inputs from ANI)