NEW DELHI: Transporters carrying goods worth over `50,000 across states will need electronically generated bill from April 1 as the GST Council meeting on Saturday stuck to its decision to roll out the e-way bill as scheduled. The all-powerful GST Council, however, failed to arrive at a consensus on simplification of tax return filing procedure.
“Today there was no conclusive decision. We have extended the current system by three more months,” finance minister Arun Jaitley told reporters after the meeting here on Saturday.
The Council deferred the implementation of reverse charge mechanism, simplification of filing returns and provisions for deduction of tax at source by three more months, even though it stuck to the April 1 deadline for e-way bill and extended relief to exporters.
“From April 1, e-Way bill be implemented for inter-state transport of goods. After a week of the inter-state implementation, it will also be rolled out for intra-state movement of goods in a phased manner with four groups of states,” Jaitley said.
The Council decided to extend the GSTR3B form till June 2018 and postponed further discussion on the subject to next GST Council meeting, whose date is yet to be decided.
The liability to pay tax on reverse charge basis has also been deferred till June 30.
Another decision by the Council was to suspend the provisions for deduction of tax at source and collection of tax at source till June 30.
Bringing cheer to exporters, the Council extended the benefit of tax exemptions on imported goods till October 1. To ease exporters’ GST refund woes, revenue authorities said refund camps would be set up beginning March 15.
“The expectations from the GST council meeting were much higher than what’s transpired. The main issues of return simplification, inclusion of real estate, some of the petroleum products etc are not yet discussed,” said Sachin Menon, partner and national head, indirect tax at KPMG in India.