The Goods and Services Tax (GST) Council, headed by Union finance minister Arun Jaitley and comprising finance ministers of all states, has finalised the e-way Bill. The Bill mandates pre-registration of all goods worth over Rs 50,000 before they are transported for sale. However, pre-registration would not be applicable for goods exempted under GST.Exemption from e-way Bill would also be applicable if goods are to be transported within a distance of 10 km.
The date of application of the e-way Bill would be notified shortly, Jaitley told reporters after the 20th meeting of the GST Council.
The Goods and Services Tax (GST) Council, headed by Union finance minister Arun Jaitley and comprising finance ministers of all states, has finalised the e-way Bill. The Bill mandates pre-registration of all goods worth over Rs 50,000 before they are transported for sale. However, pre-registration would not be applicable for goods exempted under GST.#
The Council also reduced the GST rate on job work on all textile-related items to 5 per cent to ensure smooth functioning of the labour-intensive sector.
The finance minister appealed to businesses to pass on the benefit of the reduced tax under GST to consumers, failing which anti-profiteering mechanism will be triggered.
The Council would hold its next meeting in Hyderabad on September 9. (RKS)
ALCHEMPro News Desk – India
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