The second discussion paper of the empowered group of state finance ministers on GST is likely to be released next month. This will be more detailed than the first paper, released earlier this month.
According to sources, the second discussion paper would incorporate some of the suggestions made by the industry and other stakeholders after going through the first discussion paper. However, it is also likely to stay silent on the rate for goods and services and the exemption list.
“Some of the recommendations made by the empowered committee in the first paper may change, to address the concerns of the industry,” sources said.
Another technical paper on GST by Finance Commission Chairman Vijay Kelkar will also be released in December. This is expected to be a more comprehensive paper and may provide suggestions to the government on some grey areas in GST, like exemptions, inter-state GST and the governing body.
Kelkar’s report assumes significance as 13th Finance Commission, being an independent body, is expected to give neutral recommendations on the matter that involves states and the Centre.
