Dynamite News GST Council likely to simplify tax returns
The Goods and Services (GST) Council in its 26th meeting on Saturday is likely to simplify tax returns, sources from Ministry of Finance said.
New Delhi: The Goods and Services (GST) Council in its 26th meeting on Saturday is likely to simplify tax returns, sources from Ministry of Finance said.
The council, chaired by Finance Minister Arun Jaitley is also expected to discuss the extension of 3B returns, and the current position of revenue generated from GST.
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Changes in the Anti-Profiteering Rules, which will give more flexibility and power to the apex body National Profiteering Authority (NAA) are also expected. Another important matter likely to be reviewed is the implementation of the new e-way bill for inter and intra-state movement of goods.
Finance Minister Arun Jaitley, after the 25th GST Council meeting in January, had said that the implementation of the e-way bill for intra and inter-state movement of goods would start from February 1, with 15 states agreeing to implement it on a trial basis.
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However, the trial phase was deferred on account of technical glitches on the official website. Earlier in February, Deputy Chief Minister and Finance Minister of Bihar, Sushil Modi had suggested that the e-way bill be made mandatory from April 1.
"From April 1, when the new financial year of 2018 - 2019 starts, (GoM) decided to start the inter-state movement of e-way bill system. In the first phase, only the inter-state movement of goods will be mandatorily required to take e-way bill and after a couple of weeks, the roll-out of intra-state movement of goods through e-way bill system will start," Modi had told reporters. (ANI)