26th GST Council Meeting held Today : Some Updates : ET :
☼ Worry was about Low Collection of GST, and expected with implementation of E-way Bill collection will rise. (as govt believe people are not paying taxes honestly). ☼ Discussed Return Process (2 Models) but No Decision on Simplification of Return, as bureaucracy felt, simplification will give room to tax evasion. Existing system (including GSTR-3B) will continue for 3 more months. ☼ Inter State E-way bill to be applicable from 01st April, 2018 and Intra State from 15th April, 2018. ☼ Tax Exemption for Exporters extended for 6 months. ☼ Reverse Charge Mechanism Proposal extended for 3 months. Keep Enjoying #GST.
☼ Worry was about Low Collection of GST, and expected with implementation of E-way Bill collection will rise. (as govt believe people are not paying taxes honestly). ☼ Discussed Return Process (2 Models) but No Decision on Simplification of Return, as bureaucracy felt, simplification will give room to tax evasion. Existing system (including GSTR-3B) will continue for 3 more months. ☼ Inter State E-way bill to be applicable from 01st April, 2018 and Intra State from 15th April, 2018. ☼ Tax Exemption for Exporters extended for 6 months. ☼ Reverse Charge Mechanism Proposal extended for 3 months. Keep Enjoying #GST.
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