GST Council approves e-Way Bill mechanism for movement of goods
KalingaTV News Network
New Delhi: In a major development, the Goods and Services Tax (GST) Council on Saturday decided to go for early implementation of e-Way Bill for inter-state movement of goods from February 1 and uniform mandatory compliance from June 1, 2018.
These decisions were taken at the 24th meeting of the GST Council through video conference under the Chairmanship of the Union Finance Minister Arun Jaitley.
“The Rules for implementation of nationwide e-way Bill system for Inter-State movement of goods on a compulsory basis will be notified with effect from 1st February, 2018. This will bring uniformity across the States for seamless inter-State movement of goods,” a press release of Finance Ministry said after the 24th GST Council meeting.
An e-way bill is required for movement of goods worth more than Rs. 50,000. When goods are transported for less than 10 km within a state, the supplier or the transporter need not furnish details on the GST portal.
The objective is to streamline movement of goods across and inside state borders and keep track of inter- and intra-state goods transport to check tax evasion.