GST Council likely to finalise e-way rules | Indian Share Market

Indian Share Market


GST Council likely to finalise e-way rules

The Goods and Services Tax (GST) Council is most likely to reduce the tax rate on job works creating fabric to garments to 5% on Saturday, besides coming up with a mechanism for online registration of goods above a decided value prior to the transportation of the same.

The GST Council, led by Finance Minister Arun Jaitley, will also be reviewing the implementation of the GST roll out since July 1, looking to finalise a mechanism to operationalise anti-profiteering provision in the wake of protecting consumer interests.

Post the implementation of GST, 25 out of 29 states have done away with their check posts, thereby smoothening the transportation of goods, making them hassle free, as also stated by CBEC chairperson Vanaja Sarna.

The transportation of goods is further likely to smoothen after the implementation of e-way bill in GST which will require goods of over Rs 50,000 to be pre-registered online before proceeding with the transportation.  The information technology forum for the e-way bill system is being created by the
National Informatics Centre.


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