24th gst council meeting held through Video Conferencing on 16th December 2017.

With the series of the GST Meetings, the 24th GST Council Meeting held via Video Conferencing under the presence of the Hon'ble Finance Minister, Arun Jaitley. The abstract of the same is as below:
1: The meeting followed after the stinging decline in the GST Revenue to Rs. 83,346 crore for October (recorded as the lowest since the July 1 GST rollout).
2: The discussion was mainly aimed at the early implementation of E-Way Bill. Several States have heightened the on-going concerns in respect to the Tax Evasions under GST due to the inexistence of a proper E-Way Bill mechanism.
3: Finance Minister, Arun Jaitely said that the Council has prepared a vital schedule with regard to the E-way bill to check evasion. He further added, "I think Council has already taken decision with regard to time schedule, with regard to e-way bill itself. That will help in enhancing collection".
4: It was declared that the E-way bill system will be made readily available Nationwide latest by 16th. January . 2018 fot he Inter-State and the Intra-State movement of goods.
5: Any how the Uniform Nationwide E-Way Bill for the Inter-State and Intra-State movement of goods across the country will be implemented by 1st. June. 2018.
6: Talking further about the E-Way Bill , EY India Tax Partner Abhishek jain said, “E-way bill could act as a strong tool to check tax evasion and may result in increase in tax base. Though it would add a bit to the compliance burden of taxpayers, it would help the government to build a revenue buffer before it undertakes any further rationalisation of GST rate structure. The government, however, should consider its introduction only after the technology system for e-way bill is completely developed".
7: Moreover, M S Mani, Partner, Deloitte added, “The need for an e-way bill requires serious reconsideration as its reintroduction would impair seamless movement of goods across state borders. The limit of Rs 50, 000 is also very low and would lead to a large requirement for e-way bill generation adding to pressures on the IT backbone".