26th GST Council Meet: E-Way Bill Rollout From April 1, Tax Filing Extended By 3 Months.
In its 26th meeting on Saturday, Arun Jaitley-chaired GST Council
(Goods & Services Tax) extended the existing system of filing
returns by another three months till June. Besides this, group of
ministers (GOM) on the IT (information technology) will look into the
tax filing process and consult tax experts before taking a call, among
other decisions, Union Finance Minister Arun Jaitley tweeted.
Union Finance Minister Arun Jaitley on Saturday, after the GST Council meet, said the electronic way or e-way bill for movement of goods between states will be implemented from April 1.
However, for intra-state movement, the e-way bill would be rolled out in a phased manner starting April 15, and will cover all the states by June 1.
The Goods and Services (GST) Council was expected to simplify the return filing process on Saturday, however, the Council could not decide on a simplified GST return form and entrusted the ministerial panel under Sushil Modi to chalk out a single page form which is simpler and evasion proof. Besides, tax exemptions to exporters have also been extended by six months to September.
On February 24 this year, Bihar's deputy chief minister and state finance minister Sushil Modi had said that the e-way bill would be made mandatory from April 1. A step in that direction may be taken in the council meet Saturday.
In the 23rd GST council meeting, it was decided that filing of GSTR-2 and GSTR-3 forms would stop and only the filing of GSTR-1 and GSTR-3B would continue.
However, the present return filing system is still cumbersome for tax payers and cost of compliance has gone up mainly because people are not able to handle the present system of filing returns
Union Finance Minister Arun Jaitley on Saturday, after the GST Council meet, said the electronic way or e-way bill for movement of goods between states will be implemented from April 1.
However, for intra-state movement, the e-way bill would be rolled out in a phased manner starting April 15, and will cover all the states by June 1.
The Goods and Services (GST) Council was expected to simplify the return filing process on Saturday, however, the Council could not decide on a simplified GST return form and entrusted the ministerial panel under Sushil Modi to chalk out a single page form which is simpler and evasion proof. Besides, tax exemptions to exporters have also been extended by six months to September.
On February 24 this year, Bihar's deputy chief minister and state finance minister Sushil Modi had said that the e-way bill would be made mandatory from April 1. A step in that direction may be taken in the council meet Saturday.
In the 23rd GST council meeting, it was decided that filing of GSTR-2 and GSTR-3 forms would stop and only the filing of GSTR-1 and GSTR-3B would continue.
However, the present return filing system is still cumbersome for tax payers and cost of compliance has gone up mainly because people are not able to handle the present system of filing returns