GST collection falls in February: Experts expect it to go up this month on year-end accruals, e-way bill
With the GSTN systems being stabilised to a large extent and compliance level increasing the collections are bound to improve in the first quarter of next fiscal year.
E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN (common portal).
E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN (common portal)
E-way bills are electronic way bills generated for movement of goods whether or not supply.
Before the e-way system is once again mandated nationally there are various issues which are yet to be addressed from technicality/procedural points of view
Hasmukh Adhia said the tax payer base has gone up after the GST roll out as well as demonetisation and there has been a concerted effort to make India a tax compliance society
The e-way bill, to be generated under the GST for all inter-state movement of goods valued at over Rs 50,000, will become mandatory from Thursday, on the day of the presentation of the Union Budget 2018-19 in Parliament.
It was highly expected that GST Council would decide the fate of petroleum products under GST to remove cascading effect but unfortunately no decision has been taken yet.
Instead of checkposts, state government inspectors now have mobile vans for inspections of inter-state goods movement, which traders and truckers say has increased bribe payments etc manifold.
GST Council approves early roll out of mandatory e-way Bill for inter-state goods movement from 1 February 2018
For a seamless movement of goods across states, the GST Council decided to go for early implementation of e-Way Bill for inter-state movement of items from 1 February
In an earlier meeting, the GST Council had decided that e-way bill —- an electronic document generated on the GST Network portal —- would be introduced in a staggered manner from 1 January and subsequently nation-wide from 1 April.
Truckers should understand that the GST regime, despite its flaws and pitfalls, is the future. They have to upgrade themselves to comply with its various provisions
Under the e-way mechanism, all goods worth over Rs 50,000 will have to be pre-registered online before they are moved for sale beyond 10 km
Consigners as well as consignees are stumped with the GST regime, which requires robust tax compliance at all levels
CAIT, the traders body, has demanded that the government declare first nine months post GST implementation up to 31 March as an interim period,
Andhra Pradesh FM said that commercial tax from all border posts will be removed from 1 July when the GST goes into operation, replacing the existing myriad central and state levies on both goods and services
The Council deferred a decision on e-way bills due to lack of consensus, which means states which have an e-way bill structure in place can continue with it, while others are exempt
GST rollout on 1 July: Experts feel many real issues may remain unresolved as firms race against time
It has been reiterated that anti profiteering provisions are meant to be used as a deterrent and would be invoked only against specific complaints
Industry however has expressed concerns over this saying that the Rs 50,000 limit was too low and that the timeline for completion of transport operation was "impractical and removed from reality".