GST not leviable on liquor licenses for human consumption: GST Council

Delay in GST refunds to exporters Small businesses struggle for working capital

The Group of Ministers led by Bihar Deputy Finance Minister along with IT experts will not discuss how to simplify it further. The Council has discussed two alternate ways of return filing processes.

"The system is a single monthly return, which is simple but not evasion prone".

The all-powerful GST Council on Saturday chose to rollout the requirement of carrying an electronically generated bill for transporting goods between states from April 1 but failed to finalise simplification of the GST filing process though it discussed two models and then chose to take the final decision only in the next meeting.

At its 26 meeting, the Goods and Services Tax (GST) Council has extended the present system of filing of GSTR 3B and GSTR 1 for another three months i.e., April to June 2018 till the new return system is finalised.

"Intra-state e-way Bill will be rolled out in a phased manner with four groups of states".

"Each group will come under it every week and efforts will be made to implement it across the country by April end". "Present system of GST return-filing extended by three months", Jaitley added.

For transporting goods worth more than Rs 50,000, an e-way bill has to be generated from April 1. "Further, the Committee is surprised to learn that no GST revenue targets have been fixed by the government", the Standing Committee on Finance headed by Congress leader M Veerappa Moily said in its report tabled in Parliament.

"The decision to implement the e-way bill from April for inter-state and to stagger intra-state is a welcome step", Archit Gupta, founder & CEO of ClearTax, said.

While the e-way bill was approved, the other measure for checking tax evasion - reverse charge mechanism - has been deferred till June 30. Exporters can continue to avail exemptions on their imports up to October 1 by which time an e-Wallet scheme is expected to be in place to continue the benefits in future. Accordingly, merchant exporters can pay a tax at the rate of 0.1 per cent on goods procured for export purposes and obtain a refund for the same.

Moreover, domestic procurement made under Advance Authorization, EPCG and EOU schemes were recognized as "deemed exports" with flexibility for either the suppliers or the exporters being able to claim a refund of GST / IGST paid on them. "Uncertainty regarding return filings, invoice matching etc is a cause for worry for industry as this creates a problem on how to prepare for compliances", Saloni Roy, Senior Director, Deloitte India said.

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