The 17th meeting of the Goods and Services Tax (GST) Council held at New Delhi today approved anti-profiteering and e-way bill rules. Confirming the rollout of GST on the proposed date, i.e July 1st, the Council granted relaxation of 2 months for filing return for the months July and August.
Reports say that the facility for uploading of outward supplies for July, 2017 will be available from 15th July, 2017. No late fees and penalty would be levied for the interim period in order to provide a sense of comfort to the taxpayers and give them an elbow room to attune themselves with the requirements of the changed system.
The Council also decided to levy 12% GST on state-run lotteries, whereas, government authorized private lotteries will be taxed at a rate of 28%.
The GST Council had in April drafted the e-way bill which made it necessary for all movement of goods valued at over Rs 50,000, to be registered with the GST-Network (GSTN).
The draft bill had stated that the GSTN would generate bills that would be valid for 1 to 15 days. The duration of the challan, as per the draft bill, could last anywhere from 1 to 15 days. The bill would last for 1 day for a journey of 100 kilometres and 15 days for a distance of over a 1,000 kilometres.
“Further consultation on e-way bills, till then an alternative or transient rule will prevail.” Union Finance Minister Arun Jaitley said to the reporters after the 17th meeting of the GST Council.
“IT preparedness discussed at length, 65.6 lakh have taken provisional registration,” he said.
Read the full text of the decisions taken by the GST Council in the 17th meeting below.