Compliance Chambers

The 24th GST Council Meeting held today through video conferencing decides that Inter-State e-way Bill be made compulsory from 1st of February, 2018; The System to be ready by 16th of January, 2018; The Uniform System of e-way Bill for Inter-State as well as the Intra-State movement will be implemented across the country by 1st June, 2018.   The 24th Meeting of the GST Council held today through video conference under the Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley. It discussed the implementation of e-way Bill system in the country. Until such time as the National e-way Bill is ready, the States were authorized to continue their own separate e-way Bill systems. However, it was represented by the trade and transporters that this is causing undue hardship in the Inter-State movement of goods and therefore, bringing in an early all India system of e-way Bill has become a necessity. The GST Council today reviewed the progress of readi

The Mines and Mineral Development and Regulation Act, 1957 was amended in 2015. Subsequent to the amendment, the Ministry of Mines notified the Mineral Auction Rules, 2015 on 20/05/2015 to prescribe the procedure of the auction process. Auction of concessions for major minerals (other than coal, petroleum and natural gas) was done for the first time in the history of mineral administration in the country. 33 blocks were successfully allocated. The value of minerals auctioned out is Rs. 169,000 Crore. Revenue to states over lease period are estimated at Rs. 128,000 Crore. The additional revenue on account of auction process is Rs. 99,000 Crore. However, 60 auction attempts failed during this period. The Ministry of Mines was monitoring the process very closely with the state governments. The consensus emerged that the Mineral Auction Rules need to be amended to make the process more pragmatic without sacrificing the checks on successful bidders. The Mineral Auction Rules hav