GST relief for textiles, goods movement to get smoother
Council revised rates on 19 services on Saturday, including reducing the job work rate in the textiles sector to 5% from 18%, as finance minister Arun Jaitley appealed to businesses to pass on the benefits of the tax reform measure.
The reduction in the rate of job work will be applicable across the entire textilechain and takes care of the concerns of the industry which has been pushing for reducing the rate for any job work linked to knitting, dyeing, embroidery, printing, washing, stitching, ironing and others.
The council, in its 20th meeting in the capital, also approved the e-way bill rules to ensure seamless movement of goods. The rules specify pre-registration of all goods worth over Rs 50,000 before they are moved for sale beyond 10km. It will not be applicable for exempted goods and the unified e-way rules are likely to be in place by October 1.
This will help end inspector raj as the process would largely be driven by technology. “The Council decided to implement e-way bill across the country…. There will be no check posts and the entire process will be technology driven,” Jaitley said after the meeting of the panel.
The FM said new registrations under GST has gone up to 15.67 lakh and 71 lakh state and central taxpayers have migrated to the new system. He said the figures were satisfactory.
The increase in the new registrations comes as a boost for the government which had been