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E way bill to facilitate interstate movement of goods from February 1

The GST council which met in the national capital last week has decided to introduce the E way bill system from February one under Goods and services tax regime which will help monitor interstate movement of cargo.

The nationwide e way bill system will be rolled out on a trial basis from January 16 allowing traders and transporters to test the system for a fortnight before it becomes compulsory.

The states have been given time till June 1, 2018 to implement the e way bill system for intra state movement of goods. A fully integrated tracking system for all taxable goods will be in place only by the middle of next year.

The GST council's decision assumes significance amidst rumbling from some state governments about revenue shortfalls under the new indirect tax system.

The tax receipts have dipped by over ten per cent October after healthy collections in the first three months when the GST regime was introduced. Finance minister Arun Jaitley has expressed optimism that the introduction of e way bill system will help to prop up revenue collections. Tax evasion could be easily tracked once the system is in place he said.

The council at its meeting held here last week reviewed the readiness of hardware and software for the e way bill regime. Industry is wary that the government is rushing through the measure within a fortnight.


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