Way Bill from April 1, GSTR-3B extended for 3 more months

GST Council fails to come up with simplified way of filing returns extends present system

Finance Minister Arun Jaitley will chair the 26th meeting of the Goods and Services Tax (GST) Council on Saturday. Jaitley also said that the e-way Bill will be implemented from April 1 for inter-state movement of goods. However, for intra-state movement of goods, the E-way bill will be rolled out in phased manner starting from April 15, 2018 and cover all the states by June 15, 2018.

Exporters' refunds: The Council has also extended tax exemptions to exporters for six months.

However, every state has to come on board for the intra-state implementation latest by June 1.

The existing system has been extended by three months, and a group of ministers will work on a model to simplify the returns.

Finance minister Arun Jaitley, who briefed reporters after the meeting, said that central and state tax officers felt that return filing should be simpler, yet it should leave no scope for tax evasion.

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Notably, yesterday, over 1.03 crore businesses have registered under the Goods and Services Tax (GST) regime and the implementation of the biggest indirect tax reform has been smooth so far, Parliament was informed today.

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.

Deloitte India's Senior Advisor YG Parande said the current dispensation for returns for further three months was inevitable and expected. The e-way bill, which would be required to be presented to a GST inspector if asked for, is being touted as an anti-evasion measure and would help boost tax collections by clamping down on trade that now happens on cash basis.

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. State-wise implementation of e-way bill will be done on a weekly basis (after April 7).

Besides, the GST Council also chose 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. In October, the council had decided that exporters will pay a nominal Integrated GST (IGST) rate of 0.1 per cent on merchant exports till March 31. The GST Council extended the present system of return filing by three months.

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