E-way Bill provisions are effective almost in all states for inter and intra-state transactions.
1 month, 1 week ago
The GST Council, in its last meeting on 4th May 2018, decided to go ahead with Simplification of Returns based on the recommendations placed by GoM led by Shri Sushil Kumar Modi. The roll-out is expected to happen over a period of a year and many measures have been taken to reduce the burden on the taxpayers and ease out the filing process. Monitoring and other mechanisms to keep a watch on reporting of fraudulent transactions have also been one of the considerations while devising the new process for GST returns.
1 month, 3 weeks ago
The GST council in its 27th Meeting held on 4th May 2018 has given a nod for return simplification. The new returns will be implemented in a staggered manner.
‘Bill-to and Ship-to’ is a common business scenario wherein the party to whom invoice is billed is different from the party actually receiving the goods or services. While reporting in GST returns and also for seamless transfer of Input tax credit, there are two invoices generated in the transaction.
E-way bill provisions have come into effect from 1st April 2018 for inter-state transactions and in a staggered manner will be rolled out for intra-state transactions by 1st June 2018.