GST Update: Mandatory Implementation Of E-Way Bill Stands Cancelled, FAQ's On E-Way Bill Released, Clarification On Default Authorised Services For SEZs Under GST

Every year the Union Budget attracts a lot of attention from businesses and the public alike because of its potential to affect the prices of commodities through its indirect tax proposals. However, with GST subsuming most indirect tax levies and the GST Council being the decision making body under the GST regime, the Finance Bill, 2018 had limited amendments in relation to indirect taxes. However, certain important developments have taken place in the indirect tax regime which have been encapsulated below.

Rescission of implementation of e-Way Bill 

• The mandatory implementation of e-Way Bill for the interstate movement of goods from 1 February 2018 was expected to ease trade and simultaneously plug revenue leakages in the tax system.