Since the introduction of GST, India’s biggest tax uniform, the GST council meeting is held in periodic intervals to ensure the proper implementation of GST. The main aim of thse meetings is to take proper measures to reduce the problems being faced by the public .
In the 26th GST council meet, which was headed by Finance Minister Arun Jaitley, the council members decided to extend the existing system of filing returns by another three months. Therefore, the concerned people will be having time until June to file their tax returns. Apart from extending the filing date, according to reports, the Group of Ministers (GOM) on the Information Technology (IT) will work on tax filing process while consulting experts.
Apart from extending the date, the GST Council recommended the introduction of e-way bill for inter-State movement of goods across the country from 1st April 2018. E-way bill system will be introduced w.e.f. a date to be announced in a phased manner but not later than 1st June ’18. According to media reports, FM Arun Jaitley said, “existing system of filing returns has been extended for another 3 months and meanwhile Group of Ministers on the Income Tax will look into it and consult tax experts among others.”
FM Jaitley also approved the proposal to extend the Reverse Charge Mechanism. The extension of tax exemption for exporters was also approved.