26th Meeting of GST council held today i.e 10th March 2018 in New Delhi under chairmanship of Sh. Arun jaitley. GST return filing process was expected to be simplified but GST council could not reach a decision and current system of GST return filing is continued and GSTR-3B is decided to be continued for three more months. The GST Council discussed two models for returns filing but no decision could be taken regarding simplification of GST return. The following are the major recommendations made by GST council in its 26th meeting:-
- E-way is recommended to be implemented w.e.f. 1st April for Inter-State movement of goods. From April 1, inter-state movement of goods will need generation of E-Way bills. Click below link to read changes made in E-way bill rules on 8th march 2018, for simplification. Click here.
- Intra-state E-way bill is recommended to be rolled out in phased manner.For this purpose, states are divided in four groups. After 1st April, one group of state will be added each week and it will be implemented across the country by April-end.
- The GST Council discussed two models for returns filing but no decision could be taken regarding simplification of GST return. A panel of ministers are given the task of framing one-page GST return. Meanwhile current process of GSR return filing is continued for three more month i.e. upto 30th June 2018. It means GSTR-3B, which was to be discontinued after March-2018, now continued for three more months i.e. upto June-2018.
- Reverse charge for unregistered vendor was postponed till 31st march 2018. Now is it further deferred upto 1st July 2018.
- E-Wallet scheme is deferred by six months. Exporters presently availing various export promotion schemes can now continue to avail such 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.
- TDS/TCS mechanism under GST Law has also been postponed till June 30.