Centre to roll E-way Bill under GST from January 16


GSTIn a bid to initiate hassle-free movement of goods across the state, the Goods and Services Tax (GST) chaired by Union Minister of Finance Arun Jaitley decided to roll out the E-way bill under GST from January 16.

The decision was taken during a meeting that commenced on Saturday in New Delhi.

An E-Way Bill is vital for movement of goods worth or more than Rs 50,000. While the traders can start making the use of the E-Way bill from January 16, the states can implement the e-Way Bill for on any date before June 1, 2018.

“The rules for the 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,” said the Finance Ministry.

While the GST was unveiled on July 1 this year, the Council deferred the implementation of E-way Bill till March 31 next year, due to lack of technological preparations.

The Council has now planned due to concerns over tax evasion.

The statement further explained that there are certain states that already have the E-Bill in place for intra-state as well as inter-state movement and in this case, these states will adapt to the National E-Bill system a bit early.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.