New Delhi, August 5, 2017
Union Finance Minister Arun Jaitley said on Saturday said that the Goods and Services Tax (GST) Council has given its nod to E-Way bill rules and it will be implemented across the country.
"E-way bill system will be implemented across country. There will be no check posts so that there's a smooth flow of goods and services. The system preferably will be technology driven," Jaitley said in a press conference.
He also said that E-way bill system will not be applicable on tax exempted goods and E-way Bills will only be required for packages worth over 50 thousand rupees.
The GST council has reduced tax rate on a few tractor components to 18 percent from 28 per cent and it has also cut tax on textile work to 5 percent from 18 percent.
Jaitley also mentioned that more than 71 lakh taxpayers have migrated to GST and 15.67 lakh new applications have been received.
The next meeting of GST council will be held on September 9 in Hyderabad.
[The Business Standard]