GST: All you need to know about E-Way Bill System

GST: All you need to know about E-Way Bill System

E-way bill is an online document generated by the govt portal www.ewaybillgst.gov.in evidencing movement of goods of consignment value more than Rs 50,000. The finance ministry of india has sought a report from GSTN (GST Network), the IT-backbone provider for GST, on glitches in the system that derailed the anti-tax evasion e-way bill system. Eway bill is aimed to bring uniformity across the states for seamless inter-state movement of goods. Here are the key things to know about the online document:…

Read More Read More

Odisha to decide on petrol, diesel under GST when Council discusses matter

Odisha to decide on petrol, diesel under GST when Council discusses matter

The Odisha government on Wednesday said it would take a call over the inclusion of petrol and diesel under the ambit of Goods and Services Tax when the matter is brought before the GST Council. “The state government will take a decision whether the petrol and diesel would be included under the purview of the GST when a proposal in this regard is brought in the GST Council,” said Finance Minister Sashi Bhusan Behera in his reply to a debate…

Read More Read More

Govt made 376 changes related to GST in 10 months: Export promotion council for SEZs

Govt made 376 changes related to GST in 10 months: Export promotion council for SEZs

The government has made 376 changes in the Goods and Services Tax (GST) since its inception in July last year by amending rules, issuing clarifications and circulars related to refund, the exemption and rates, Export Promotion Council for EOUs & SEZs (EPCES) has said. “The government has made 376 changes to the tax system by issuing circulars and coming out with clarifications about change in rates or exemptions,” said Vinay Sharma, chairman, EPCES at an open house meeting with exporters…

Read More Read More

GST Council meet on May 4, simplifying returns on agenda

GST Council meet on May 4, simplifying returns on agenda

Finance Minister Arun Jaitley-chaired GST Council will meet on 4 May to discuss a simpler return form and the amendments required in the indirect tax regime rules. The 27th meeting of the Council, comprising state finance ministers, will meet through video conferencing and will also mull over the proposal of converting GSTN into a government company. A decision on return simplification could be on the cards with the Sushil Modi-led Group of Ministers putting before the Council the three models…

Read More Read More

Telangana State tops in GST collection

Telangana State tops in GST collection

The State has achieved another distinction as number one in the country in terms of tax collection under the  GST (Goods and Services Tax) regime. The State had successfully brought down the revenue gap in GST collections to 2.4% by the end of the financial year 2018 from 27.8% witnessed during July 2017, the month when the GST regime was put in place. Union Finance Secretary Dr.Hasmukh Adhia addressed a letter to the State government, congratulating it on the achievement….

Read More Read More

GST: 5 more States to implement E-way Bill from 25th April, 2018

GST: 5 more States to implement E-way Bill from 25th April, 2018

Four more states, including Madhya Pradesh, and Union Territory of Puducherry will roll out the e-way bill for intra-state movement of goods from 25 April. From 1 April, the government had launched the electronic way or e-way bill system for moving goods worth over Rs 50,000 from one state to another. The same for intra or within the state movement has been rolled out from 15 April. So far 12 states have made e-way bill mandatory for intra-state movement of…

Read More Read More

How E-way bill fared in the first 15 days

How E-way bill fared in the first 15 days

It has been more than two weeks that the e-way bill was made compulsory for inter-state movement of goods. Given that the capacity of the e-way bill portal was beefed up to handle around 75 lakh inter-state e-way bills on a daily basis, not much trouble was faced on April 1, barring a down-time of two hours which disrupted businesses for a while. Having said that, overall the implementation was a success, with Karnataka also rolling out its intra-state e-way…

Read More Read More

GST jigshaw: Why E-way bill is a vital piece of the puzzle

GST jigshaw: Why E-way bill is a vital piece of the puzzle

An integral part of achieving the ‘no tax evasion’ objective of the goods & services tax (GST) has been the prescription of a requirement for e-way bill (electronic-way bill). Akin to the pre-GST regime requirement of state permits for movement of goods into various states, the GST law has also contemplated a requirement of a document, e-way bill, for any movement of goods exceeding a consignment value of Rs 50,000. While the requirement of a document for movement has been…

Read More Read More

GSTN to be owned by govt? FinMin looking at issues related to proposal

GSTN to be owned by govt? FinMin looking at issues related to proposal

The Finance Ministry is examining various issues, including the overhaul of procurement procedures and the salary structure of employees as part of the proposal to convert GST Network (GSTN) into a government company. These two issues, along with other transitional and operational nuances, would be placed before the Union Cabinet for consideration once the GST Council clears the proposal of turning GSTN into a majority or fully-owned government entity, a source told PTI. Finance Minister Arun Jaitley had earlier this month asked Finance Secretary Hasmukh Adhia to “examine the possibility” of converting GSTN into a majority government company or a…

Read More Read More

E-way Bill for Intra-State Supplies in Maharashtra from May 1st

E-way Bill for Intra-State Supplies in Maharashtra from May 1st

The Commissioner of State Tax, Maharashtra has issued a notification amending an earlier notification which stated that on or after the 1st April 2018, no e-way bill shall be required to be generated, for the intra-State movement that commences and terminates within the State of Maharashtra, in respect of any goods of any value. As per clause 2 of the earlier notification, the notification shall be in force until further orders are issued. The new notification has amended clause 2…

Read More Read More