Skip to main content

Project Saksham gets govt nod for easy GST roll-out

The new indirect tax network (systems integration) called Project Saksham will be developed with the help of Wipro

In a swift progress towards the goods and services (GST) tax roll-out from April 1, 2017, a Cabinet committee cleared the Rs 2,256 crore back-end information technology (IT) project for the indirect tax department on Wednesday.

The new indirect tax network (systems integration) called Project Saksham will be developed with the help of Wipro.

"The implementation strategy for the project will be to ensure the readiness of the Central Board of Excise and Customs (CBEC) IT framework by April 1, 2017, when GST is to be introduced," an official statement read.

Project Saksham, cleared by the Cabinet Committee on Economic Affairs, will facilitate implementation of GST, extension of the Indian Customs single window interface for facilitating trade (SWIFT) and other taxpayer-friendly initiatives under Digital India and ease of doing business of CBEC.

GST will subsume excise, service tax and a clutch of other local levies.

"The total project cost involved is Rs 2,256 crore, which will be incurred over seven years," the statement said, adding the upgrade of the IT systems will be carried out, while keeping the existing taxpayer services running.

All taxpayers or traders and exporters under various indirect tax laws administered by CBEC - at present around 3.6 million - are likely to go up to over 6.5 million after introduction of GST," the statement added.

The GST Network (GSTN), a private body, is developing the front-end infra with the help of Infosys.

There is no overlap in the GST-related systems of CBEC and GSTN, the statement said. CBEC's IT structure needs to integrate with GSTN for processing of registration, payment and returns data sent to CBEC as well as act as a front-end for other modules like audit, appeal and investigation.

"This IT infrastructure is also urgently required for continuation of CBEC's e-services in Customs, central excise and service tax, implementation of taxpayer services such as scanned document upload facility, extension of Indian Customs SWIFT initiative and integration with government initiatives such as e-Nivesh, e-Taal and e-Sign," the statement added.

OTHER CABINET APPROVALS
 
  • An MoU with Singapore to give boost to innovation, creativity and technological advancement in both countries
  • Pact between India and Korea that would pave the way for recognition of each other's certificates on maritime education and training for seafarers
  • Tamil Nadu, Kerala to get PDS grains from Centre at MSP rates

Business Standard, New Delhi, 29 September 2016

Comments

Popular posts from this blog

Data storage norm splits digital payments industry

Data storage norm splits digital payments industry  India’s nascent digital payment industry could be thrown into disarray due to the demand by the Reserve Bank of India (RBI) that all user data be stored within the country, fears an industry grouping, which has termed the decision as “heavy-handed”, even as others, including the country’s largest digital payment provider Paytm, have hailed the move.  In a bid to narrow the growing schism, the industry is planning to send a formal representation to the regulator highlighting its concerns, a top official told ET.  “We are trying to build a consensus on the issue," said the person adding that the representation to the central bank will be ready this week.  RBI on April 6, mandated all payment companies—global and local—to set up data storage facilities within India by October. The stringent six-month deadline has attracted the ire of several sections of the industry that fear it will lead to a disruption of wel...

Offer’s for all of you

Great Bumper Dhamaka Offer’s for all of you... It's Time to see your Business Online, WebeCreator Offer Website Designing with domain & Email @ nominal charges. For a year For More information visit us http://goo.gl/KlpppF call on 9890151261/9773197533  drop a mail to sales@webecreator.com

Sebi to finalise options in commodities today

The Commodity Derivatives Advisory Committee of the Securities and Exchange Board of India ( Sebi) will meet on Friday with senior officials of the latter, to give a final shape to the rules on options trading in commodity futures, beside revising the warehousing norms to ensure good delivery on settlement. The decision taken, after discussing with the advisory committee, will be placed before the regulator’s board, to finalise the regulations. According to knowledgeable sources, three commodities in each segment, agricultural and non- agricultural, have been proposed for introducing options. It appears commodities from the soya and guar segments are preferred in the former. From the non- agri segment, it is likely that gold, silver and crude oil will be finalised. All these These have better liquidity and both the National Commodity and Derivatives Exchange and the Multi Commodity Exchange, respectively, will be able to introduce the options. In the equity segments, options ar...