1% tax at source under GST likely for online sellers
May, 17th 2017
Ahead of the planned GST rollout from July 1, the government is strengthening the body responsible for detecting tax evasion and will set up two new agencies, including one for business intelligence and analytics.
With the goods and service tax (GST) subsuming central levies like excise duty, service tax and state VAT, the Central Board of Excise and Customs (CBEC) has reorganised its existing central excise and service tax field formations to suit the requirements of the new regime.
The CBEC will itself be rechristened as the Central Board of Indirect Taxes and Customs (CBIC) and will supervise GST and Customs activities and provide the government policy inputs.
The CBIC will be headed by a chairman and will have six members -- for GST; IT, legal and compliance verification; investigation; tax policy; Customs and administration and vigilance.
In a letter to the zonal heads, the human resource arm of the CBEC said the Directorate General of GST Intelligence (DGGSTI) will be the new name of the existing Directorate General of Central Excise Intelligence (DGCEI), but with more powers.