GST council to decide on rollout of e-way bill on Saturday
The GST council, scheduled to meet on Saturday, will discuss the e-way bill and the simplification of tax returns by simplifying technicalities around tax rebates.
According to a Mint report, ENA will also consider whether extra neutral alcohol (ENA) will come under its ambit. ENA is a very concentrated type of alcohol that is not fit for direct human consumption.
The council will meet in person, as opposed to the earlier videoconferencing sessions. It is reluctant to roll out a less than perfect system for the e-way bill, fearing trade disruptions. Hence, it is seriously considering delaying the implementation of the system defined by the bill by 5 to 6 months.
The 26th GST Council meeting will also try to reach a consensus on simplifying tax returns.
Panel head and Bihar deputy chief minister Sushil Kumar Modi had earlier stated that the e-way bill could be rolled out from April 1 for inter-state shipments.
The council will also decide whether a modified summary return of all transactions in a month, along with sales invoices, will be enough to file GST returns, as opposed to filing four returns every month.
However, the council is divided on the subject of availing input tax credit: whether it should be allowed based on the summary or if it should wait till the seller uploads his invoice returns.
The redefinition of handicraft items is also being reconsidered under the GST regime.