Dynamite News GST Council approves inter-state e-way bill compliance from Feb 1
The Goods and Services Tax (GST) Council approved the inter-state e-way bill compliance, to be effective from Februray 1, and compulsory intra-state e-way bill compliance effective June 1.
New Delhi: The Goods and Services Tax (GST) Council on Saturday approved the inter-state e-way bill compliance, to be effective from Februray 1, and compulsory intra-state e-way bill compliance effective June 1.
As per the Finance Ministry sources, the GST Council approved e-way bill implementation roadmap in its 24th meeting chaired by the Union Finance Minister Arun Jaitley via video conferencing.
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The e-way bill system will be ready by January 15 for trial runs and the states which are ready, may roll-out inter-state, intra state e-way bill from February 1, added sources.
E-way bills would aid India's logistics ecosystem and will lead to a reduction in pricing of road freight.
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E-way bill will require online registration for movement of goods worth more than Rs. 50,000, easing the movement of freight further, and bring in more transparency in the whole process.
Earlier in October, the GST Council in its 22nd meeting had recommended that the e-way bill system should be rolled out in staggered manner from January 2018 and shall be nationwide effective April 2018. (ANI)