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Finance (Finance Commission-I) Department
count:
In the Revised Budget Speech 2021-22, the Hon’ble Minister of Finance and Human Resource Management has announced that the Government will set up an Advisory Council to develop a federal fiscal model with eminent experts on legislation relating to Revenue and Taxation (including GST).
2. Accordingly, the Government constitutes an Advisory Council to develop a federal financial model under the chairmanship of Shri Arvind P. Datar, Senior Advocate, Supreme Court of India with the following members:-
- Thiru K Vaitheeswaran, Advocate, Madras High Court.
- Thiru G. Natarajan, Advocate. Madras High Court.
- Thiru Suresh Raman, Vice President and Sector Head, TCS-Service Sector.
- Thiru Srivatsa Ram, Managing Director. Wheels India Limited.
- Thiru K. Velmurugan, President, Hosur Small and Tiny Industries Association.
3. The terms of reference of the Advisory Council are as follows:
- To study the financial powers of the State and the Union with special reference to GST.
- To study the imposition of cess and surcharge by the Union and its effect on the finances of the State.
- To analyze the financial scenario of the state.
- To identify problems with the institutional mechanism supporting GST including independence of decision makers and the constitution of GST tribunals.
- To identify compliance issues faced by large industries, MSMEs, service sector and consumers for bringing to the notice of GST Council.
- To identify difficulties in respect of (1ST rates applicable on various items.
- To suggest strategies for improving CIST collection and other taxes of the State.
- To study the best practices adopted in other states with respect to GST including the use of technology and artificial intelligence to identify tax evasion.
- Any other issue which is in the opinion of the Speaker. relevant to union-state fiscal relations.
An official of the Central Board of Indirect Taxes 86 Customs Duty in Pay Level 13 in the Pay Range of Rs 123100-215900 (as per 7th Pay Matrix)th Central Pay Commission) will be appointed on deputation as Member Secretary of the Advisory Council.
The Advisory Council constituted in Para-2 of the above shall be treated as First Class Committee for the purpose of payment of Traveling Allowance/Dearness Allowance.
This order issues in concurrence with PSL No. 202204PSL0147 of Finance (CMPC).
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