GST Council meeting extends tax exemptions to exporters

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

It also extended the benefit of tax exemptions on imported goods for exporters by another six months and deferred the implementation of reverse charge mechanism by three months.

According to Times of India, the GST council has noted that businessmen have disclosed different values in GSTR-1 and GSTR-3B for the same items, which may be one of the reasons for the discrepancy. A Group of Ministers will work on model for further simplification of returns.

E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN (common portal).

The GST Council on Saturday could not take a decision on simplification of return filing and chose to continue with the current regime of multiple filings for the next three months.

Wary of system collapsing like it happened when the e-way bill was first introduced on February 1, the Council chose to rollout the requirement of carrying the permit for intra- state movement in a staggered manner. "Each group will come under it every week after April 1 and efforts will be made to implement it across the country by April end", Jaitley said. All the states will have the system in place by June 1. The Council could not decide on a simplified GST return form and entrusted the ministerial panel under Sushil Modi to chalk out a single page form which is simpler and evasion proof. Both e-way bill and RCM are anti-evasion measures under GST but traders have been protesting against these since inception. A total of 15 states had agreed to implement it on a trial basis. Officials said that the variation in the two returns was also detected as many businesses did not expect the government to tally GSTR-1 and GSTR-3B that includes detailed filing of payment based on input tax credit and use of previous balance.

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With E-way bill roll out, from April 1, transporters of goods worth over Rs 50,000 will have to generate an e-way bill.

The GST Council also chose to implement the e-wallet scheme for giving refunds to exporters under GST by October 1, 2018 - the date till which exporters can continue to claim tax exemptions under the extant promotion schemes.

The Council has also recommended suspension of the provisions for deduction of tax at source (TDS) under section 51 of the CGST Act and collection of tax at source (TCS) under section 52 of the CGST Act till June 30, 2018.

Further, a GST Implementation Committee (GIC) has been tasked with the work of redressing the grievances caused to the taxpayers arising out of IT glitches.

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