26TH GST COUNCIL MEETING

26TH GST COUNCIL DECISION

 The 26th GST Council meeting on Saturday failed to come up with any conclusive simplification process after deliberating on two models and has now postponed the decision for next Council meeting, but E-way bill will be implemented from April 1. 

  

 

The following decisions were taken in meeting:-

1. GST Council decided to extend the current system of filing simplified return i.e. GSTR-3B up to 30th June 2018. No conclusive decision was taken on GSTR 1,2,3 simplifications as the taxman is of the opinion that simplification should not provide room for tax evasion.

2. TDS & TCS provisions also extended till 30th June 2018 for the want of proper IT infrastructure.

3. E-way bill for Interstate movements of goods to become mandatory w.e.f. 1st April 2018 as per amended E-Way bill rules 2018

4. The whole country divided into 4 regions for the purpose of the intrastate E-Way bill. Each region to have mandatory intrastate e-way bill system on a gap of weekly basis so that all regions can be covered within the month of April.

5. Certain tax exemptions which were earlier given to exporters till March 2018 has been extended for a further period of 6 months.

6. Special exporter GST refund drive to be started from 15th March 2018 so that the refund claims can be cleared up to 31st March 2018.

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