October 12, 2015 8:30 AM

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Finance Ministry invites comments on three GST reports of empowered panel

Finance Ministry has invited stakeholder comments on the three reports of the empowered committee of state finance ministers on Goods and Services Tax, GST by the end of this month. The three reports of the Empowered Committee, pertains to registration, payment process and refunds in the GST regime. The reports are available on the official website mygov.in. An official release said, Finance Ministry has invited comments and views on these business processes by 31st of this month. It said, government intends to introduce the GST in the country at the earliest.GST seeks to subsume many indirect taxes at the Central and state-level. A single rate of GST will replace central excise, state VAT, entertainment tax, entry tax, luxury tax and purchase tax on goods and services to ensure seamless transfer of goods and services.

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