GST Council Meet Live Updates: Nirmala Sitharaman addresses first press conference as Finance Minister
GST Council Meet Live Updates: The all-powerful GST Council decided to extend the tenure of National Anti-profiteering Authority (NAA) for a period of two years, whereas rate cuts for electric vehicles has been sent to fitment committee.
- Jun 21, 2019,
- Updated Jun 21, 2019 6:53 PM IST
The council at its 35th meeting under the new FM will hold deliberations on ways to increase vigilance and to accord appropriate punishment for defaulters. For the same discussions will be held on extending the tenure of the national anti-profiteering authority (NAA) by a year till November 2020. The authority which came into existence on November 30, 2017, after its Chairman B N Sharma assumed charge still continues to receive consumer complaints of profiteering against companies. So far, the NAA has passed 67 orders in various cases. Along with NAA extension, a proposal of integrating e-way bill with NHAI's FASTag mechanism from April 1, 2020 will also be put forth.
Such an integration would help find the location of the vehicle and when and how many times it has crossed NHAI's toll plazas and restrict transporters from doing multiple trips by generating a single e-way bill. Transporters of goods worth over Rs 50,000 would be required to present an e-way bill during transit to a GST inspector, if asked. Reports suggest that lack of harmonisation under the 'track and trace' mechanism in terms of sharing information among different agencies is leading to misuse of e-way bill.
The council at its 35th meeting under the new FM will hold deliberations on ways to increase vigilance and to accord appropriate punishment for defaulters. For the same discussions will be held on extending the tenure of the national anti-profiteering authority (NAA) by a year till November 2020. The authority which came into existence on November 30, 2017, after its Chairman B N Sharma assumed charge still continues to receive consumer complaints of profiteering against companies. So far, the NAA has passed 67 orders in various cases. Along with NAA extension, a proposal of integrating e-way bill with NHAI's FASTag mechanism from April 1, 2020 will also be put forth.
Such an integration would help find the location of the vehicle and when and how many times it has crossed NHAI's toll plazas and restrict transporters from doing multiple trips by generating a single e-way bill. Transporters of goods worth over Rs 50,000 would be required to present an e-way bill during transit to a GST inspector, if asked. Reports suggest that lack of harmonisation under the 'track and trace' mechanism in terms of sharing information among different agencies is leading to misuse of e-way bill.