GST Council Makes Recommendations For E-Way Bill Roll-Out

GST Council has recommended the introduction of e-way bill for inter-State movement of goods across the country from April 1

Though the GST Council decided to rollout the E-way Bill from April 1, the council seemingly fell short of the industry expectations by not making the GST filing process simpler on Saturday. The GST Council, in its 26th meet, could not decide on a simplified GST return form and entrusted a ministerial panel under Sushil Modi, finance minister of Bihar, to chalk out a ...

In its 26th meeting, Arun Jaitley-chaired GST Council decided that electronic way or e-way bill between states will be implemented from April 1.

In case individual consignment amounts to less than Rs 50,000 within the state, then no e-way bill is needed.

The government today sought Parliament nod for additional cash spending of Rs 85,315.30 crore in the current fiscal, of which 70 per cent is earmarked to compensate states for revenue loss on account of GST roll out.

The spending would include Rs 62,700 crore compensation to the state governments and union territories following the launch of GST last year.

The GST council would look at finalising the module proposed by Nandan Nilekani to simplify filing of returns on March 10

In an SBI Ecowrap report, Chief Economist Soumya Kanti Ghosh noted that the speculative collection target pegged at Rs 7.4 lakh crore.

In what could be the first arrests under the Goods and Services Tax (GST) law, the directors of two companies have been arrested in Mumbai for allegedly availing tax credits illegally.

India might have regained the status of the world's fastest-growing major economy in the October-December quarter, driven by higher government spending and a pick-up in manufacturing and services.

GDP or gross domestic product grew at 6.9 per cent in the October-December quarter from a year earlier as the transient effects of GST fade away, according to a Reuters poll of more than 35 economists, taken over the past week. If the GDP growth numbers come in line with the Reuters poll, it will be the best growth rate recorded in a year. It would also help India reg...

E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN (common portal).

Nandan Nilekani will assist the government in developing IT infrastructure for the mega National Health Protection Scheme (NHPS), which seeks to cover 10-crore families

The 15th Finance Commission, set up to recommend the devolution of central pool taxes to states, as well as a fiscal consolidation roadmap for government finances, has invited suggestions from the public, according to the Union Finance Ministry.