25 Sep 2004
The empowered committee of state finance ministers envisaged TINXSYS to overcome the administrative constraints under the present system. Initially, TINXSYS is expected to remove many of the problems associated with tracking of interstate trade. Over time, TINXSYS is expected to develop into the backbone for overall changes in commercial tax system across India and eventually integrate the same nationally.
TINXSYS will be a database of all interstate trade transactions related information that would form the basis for generating requisite MIS reports and other reports as may be needed by the participating states. TINXSYS would provide a platform for selling dealers to verify the validity of the registration number (Taxpayer Identification Number) of the buyer in an interstate transaction. The platform for this purpose would include an Internet based solution as well as a call-centre.
About ''empowered committee of state finance ministers''
The empowered committee of state finance ministers consists of 28 states in India, and the finance minister of Delhi and Pondicherry.
The
committee was set up in July 2000 at a meeting of all
chief ministers chaired by the then prime minister and
has been registered as a society. Dr. Asim Dasgupta,
the finance minister of West Bengal is the chairman
of the society and Ramesh Chandra is the member-secretary.
The Committee interacts with Trade and Industry Associations
and is strongly in favour of computerisation of all
trade related activities. It is expected that installation
of TINXSYS would result in easy verification of inter-state
transactions.
