Respite likely for businesses on e-way under GST

Input credit for old stock; GST Council meeting in Srinagar to finalise rates and rules

In a relief for business, the government is considering easier provisions related to the Electronic Way (E-Way) Bill and input tax credit for old stock under the coming goods and services tax (GST) regime.

The GST Council will meet in Srinagar on Thursday and Friday, its 14th meeting, to discuss GST rates and finalise the rules.

On strong corporate demand, the government is considering whether to enhance the threshold limit under the under-draft E-Way Bill, besides removing intra-state supplies from its ambit. Under the draft rules, moving of goods worth more than Rs 50,000 under GST will require prior online