Finance Minister Arun Jaitley is holding a pre-budget consultation meeting with Finance Ministers of all States and Union Territories in New Delhi today. The meeting will be followed by the 25th GST Council Meeting which may consider reduction in GST rates for goods and services in view of the representations received from various groups.
During the meeting, the Council may consider a host of proposals to simplify filing of returns and registration of large entities. Among other things, the Council will review the preparedness of GST Network in handling the return filing process as well as for implementing the e-way bill system with effect from 1st of next month.
Under the GST, rolled out in July last year, inter-state road transport of goods beyond 10 kilometer with a value of 50 thousand rupees and above, will mandatorily require e-way bill from 1st of February. This will bring uniformity across the States for seamless inter-State movement of goods.