Union Finance Minister Arun Jaitley flanked by MoS for Finance Shiv Pratap Shukla and Revenue Secretary Hasmukh Adhia at the 26th meeting of the Goods and Services Tax (GST) Council, in New Delhi on Saturday.
The Goods and Services (GST) Council, in its 26th meeting on Saturday, made a decision to divide the states into four lots for the rollout of intra-state e-way bill in April. E-way bill system will be introduced w.e.f. a date to be announced in a phased manner but not later than 1st June '18. The Group of Ministers (GoM) headed by Bihar Finance Minister Sushil Modi will be interacting with IT experts on how the tax return filing system under GST can be simplified. While the Tax Exemption for Exporters has been extended, the ground reality should be checked by the Government.
He added that the e-way bill for movement of goods between states will be implemented from April 1.
The existing system has been extended by three months, and a group of ministers will work on a model to simplify the returns. "Will try to implement it in all the states by end of April", Jaitley said.
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"Tax bureaucracy felt that simplification should not provide room for evasion.No conclusive decision on return filing was taken".
Deloitte India's Senior Advisor YG Parande said the current dispensation for returns for further three months was inevitable and expected.
E-way bill will be applicable from April 1 for inter-state transactions. As on March 2, a total of 1,03,99,305 taxpayers are registered under GST, which include 64.42 lakh taxpayers who have migrated from the erstwhile tax regimes and 39.56 lakh who have taken new registration under GST, Minister of State for Finance Shiv Pratap Shukla said.
Jaitley said there is a need to ensure there is no evasion of tax taking place under the new system and hence there is a need for further discussion.
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The first group of states to roll out the intra-state e-way bill will be selected on April 7.
Besides, the GST Council also made a decision to implement e-wallet scheme for giving refunds to exporters under GST by October 1, 2018 - the date till which exporters can continue to claim tax exemptions given by the Council in its October 6 meeting.
While deferment of reverse charge mechanism for purchases from unregistered suppliers is a welcome move, the GST council should consider completely scrapping such a draconian provision.
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