CBIC chief flags GST without jurisdiction
New Delhi, July 9 (KNN) Looking ahead to the upcoming GST reforms, Central Board of Excise and Customs (CBIC) Chairman Vivek Johri said that a jurisdictionless GST regime can be expected.
He told ET that India could consider a significant change in the Goods and Services Tax (GST), including a jurisdictionless regime as part of the next round of reforms to the five-year-old indirect tax system. .
Johri said we need to discuss whether we still need territorial jurisdiction at least in council.
“I think technology allows us to not be tied to a particular geographic location,” he added.
Especially for the financial services sector or companies that have a pan-India presence, the industry has demanded centralized registration and auditing, Johri said.
“I think we need to seriously think about it because on some level technology makes it possible, but it requires a lot of discussions with states… We’ll have to have that discussion,” he told ET. .
The CBIC has already announced the online grievance system, which will be fully functional within the next three months, he said.
Regarding the streamlining of rates, Johri said that it is expected that there will be three rates and it requires a lot of thought and adjustment.
However, the Group of Ministers has not yet issued its final report on the rate rationalization.
Johri said the problem, in his view, is that you can’t have rate rationalizations unless some rates go up.
“That would mean reinserting certain items under different tariff slabs,” he added. (KNN Office)