The GST Council will meet in New Delhi today. 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 (GSTN) 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 Goods and Services Tax rolled out from July last year, inter-state road transport of goods beyond 10 kilometre 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. 

Chaired by Union Finance Minister Arun Jaitley and comprising his state counterparts, the Council may also consider a reduction in GST rates for goods and services in view of the representations received from various groups. This will be the 25th meeting of the Council.

Meanwhile, Group of Ministers appointed to look into IT issues of GST held their sixth meeting in Bengaluru yesterday. Talking to media after the meeting, Bihar Deputy Chief Minister and head of the Group, Sushil Modi said, dip in revenue during the last few months is a matter of concern. 

He said the revenue collection dipped from 92,283 crore rupees in July to 80,806 crore rupees in November. He said the figures indicate that there have been attempts to evade or suppress taxes. Mr Modi said, the GST Council will today discuss measures to prevent tax evasion and suppression. #casansaar (Source - NewsonAir)