SUMMARY OF 26TH GST COUNCIL MEETING HELD IN NEW DELHI

SUMMARY OF 26^TH GST COUNCIL MEETING HELD IN NEW DELHI

1. Council decided to extend the current system of filing simplified return i.e. GSTR-3B up to 30 June 2018.
2. No conclusive decision was taken on GSTR 1,2,3 simplifications as the taxman is of the opinion that simplification should not provide room for tax evasion.
3. TDS & TCS provisions also extended till 30 June 2018 for the want of proper IT infrastructure.
4. E-way bill for Interstate movements of goods to become mandatory w.e.f. 1 April 2018 as per amended E-Way bill rules 2018.
5. The whole country divided into 4 regions for the purpose of the intrastate E-Way bill. Each region to have mandatory intrastate e-way bill system on a gap of weekly basis so that all regions can be covered within the month of April.
6. Certain tax exemptions which were earlier given to exporters till March 2018 has been extended for a further period of 6 months.
7. Special exporter GST refund drive to be started from 15 March 2018 so that the refund claims can be cleared up to 31 March 2018.