Home World Economy FATF related work out of DEA’s domain, GST under revenue department

FATF related work out of DEA’s domain, GST under revenue department

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NEW DELHI: Work relating to the Financial Action Task Force (FATF) has been moved out of economic affairs to the revenue department, according to a recent official order.

FATF is an inter-governmental global body that sets standards and promotes the implementation of measures for combating money laundering, terror financing and other related threats to the international financial system.

The Indian government has been taking various measures on these issues based on FATF’s recommendations.

The work of the Goods and Services Tax (GST) administration, the GST Council and the GST Appellate Tribunal has also been brought under the revenue department, the order issued by Cabinet Secretariat said.

President Ram Nath Kovind has approved changes in the Government of India (Allocation of Business) Rules, 1961, for these revisions, it said.

The key legislation of the GST– The Central Goods and Services Tax Act, the Integrated Goods and Services Tax Act, the Union Territory Goods and Services Tax Act, the Goods and Services Tax (Compensation to States) Act– and legislative work related to Indirect Taxes (excluding custom duty) in Union Territories without legislature have been allocated to the revenue department, the order said.

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