The first chairman of the panel, Ashim Dasgupta of West Bengal, also had to go mid-way before finishing his job. Dasgupta, the finance minister of the Left Front government, had to quit after the Mamata Banerjee-led Trinamool Congress swept to power in Bengal in 2011.
The Modi-led panel held its last meeting at Mussorie last month. It was decided that new proposals such as raising the exemption threshold for small and micro enterprises and introducing a compensatory value-added tax for inter-state trade instead of the integrated GST, will be considered.
The committee had also suggested that the states may consider fixing the annual turnover threshold at Rs. 25 lakh for GST. With Modi possibly going out at this critical juncture, the panel is set to start afresh with all these proposals, said sources. The parliamentary standing committe