Existing system of filing GST returns extended by three months, says Arun Jaitley


NEW DELHI: The existing system of filing GST returns has been extended for another three months, Finance Minister Arun Jaitley said on Saturday after the 26th meeting of the Goods and Services Council. He also said that the Group of Ministers on the Income Tax will look into the GST filing and consult tax experts among others.

He added that the e-way bill for movement of goods between states will be implemented from April 1. However, for intra-state movement, the e-way bill would be rolled out in a phased manner beginning April 15 and will cover all the states by June 1.

Jaitley had in January, said that the implementation of the e-way bill for intra and inter-state movement of goods would start from February 1, with 15 states agreeing to implement it on a trial basis. However, the trial phase was deferred on account of technical glitches on the official website.

Earlier in February, Deputy Chief Minister and Finance Minister of Bihar, Sushil Modi had suggested that the e-way bill be made mandatory from April 1. “From April 1, when the new financial year of 2018 – 2019 starts, (GoM) decided to start the inter-state movement of e-way bill system. In the first phase, only the inter-state movement of goods will be mandatorily required to take e-way bill and after a couple of weeks, the roll-out of intra-state movement of goods through e-way bill system will start,” Modi had said.

The Council could not decide on a simplified GST return form and entrusted the ministerial panel under Sushil Modi to chalk out a single page form which is simpler and evasion proof. Jaitley added that along with GST return filing, tax exemptions to exporters have also been extended by six months to September.

Source: http://zeenews.india.com/economy/existing-system-of-gst-return-filing-extended-by-three-months-says-arun-jaitley-2088312.html

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