Question 1 - What are the basic objective of Settlement Commission? - FAQ on GST dated 21.9.2016 based on Draft Model GST

Q 1. What are the basic objective of Settlement Commission? Ans. The basic objectives of setting up of the Settlement Commission are:- i. to provide an alternate channel for dispute resolution for the taxpayer; ii. to expedite payment of GST involved in disputes by avoiding costly and time consuming litigation process; iii. to provide an opportunity to tax payers to come clean who may have evaded payment of tax; iv. to serve as a forum for the taxpayer to apply for settlement of their cases, on the basis of true and complete disclosure of their tax liability; v. to encourage quick settlement of disputes and save the business from the worries of prosecution in certain situations.