Finance minister Pranab Mukherjee today proposed to constitute a panel headed by Unique Identification Authority chairman Nandan Nilekani to draw a roadmap for the IT infrastructure needed for the smooth rollout of the proposed goods and services tax (GST) regime.
"We have proposed the constitution of an empowered group chaired by Nilekani with joint representation from the Centre and the states which would be authorised to take decisions about the size, features and functionalities of such a system (on GST)," Mukherjee told the empowered committee of state finance ministers, which met here today.
The proposed panel will also choose the appropriate technology for GST implementation and select the vendor who will be deliver it in a time-bound manner.
He said Nilekani has proposed a detailed roadmap and strategy for putting in place the requisite IT infrastructure for the smooth implementation of GST."Since the infrastructure needs to be in place well before the actual introduction of GST next April, decisions have to be made with great alacrity and speed," Mukherjee added.
Mukherjee today proposed a three-rate GST structure which will simplify the indirect tax regime, under which goods will attract 20 per cent levy, 16 per cent for services and a concessional 12 per cent on essential items.
The revenue from GST will be shared equally between the Centre and states, implying that out of 20 per cent tax proposed for goods, 10 per cent each would go to the Centre and the state concerned. Similarly, in case of services, the revenues would be equally shared between the Centre and the state.