What is E-way bill & Rules to generate the E- way bill ?
E way bill is an electronically generated document, required to be generated for the movement of goods of more than 50,000 INR from one place to other.
Required for inter-state and intra-state transportation. under GST regime this is necessary after 1st Feb 2018.
This is a replacement of VAT (value added tax) regime's way bill.
Way bill was a physically generated document necessary for inter-state movement of goods.
Who will have to generate the E-way bill ?
the E- way bill is required to be generated by every registered or unregistered person involved in the goods transfer regime .
The hindu newspaper article - 20th dec 2017 :
Already grappling with the "GOODS AND SERVICES TAX TRANSITION" Businessman are now more anxious about how the E-way bill will roll out.
Every goods moving more than 10 kms will require prior registration and generation of an e-way bill through the GST Network, which will be valid for varying duration depending on the distance traveled.
The problem is that few states have implemented this system and few hasn't . This poses an interim headache for firms operating across States, as they will now face differing compliance requirements for inter-State trade and intra-State trade, depending on when individual States launch their own e-way bill systems.
The exempted ones - Over 150 items of common use, including LPG cylinders, vegetables, food grain and jewelry, will be exempt from such transport permits, which can be checked by designated tax officials by intercepting a transporting vehicle. Goods moved on non-motorised conveyance, such as carts, have been left out.
Why the gov is concerned ?
In October, the GST Council had decided to introduce e-way bills in a staggered manner from January 1, with a nationwide roll-out on April 1, 2018
After a monthly ₹90,000 crore-plus inflow in the GST’s first three months, revenue in October plummeted to just over ₹83,000 crore.
With States claiming a revenue shortfall of about ₹40,000 crore so far under the GST, the Centre, which has to fill that gap, is also feeling the pinch.
Way forward :
Budget is less than 2 months now and economic advisors feels that with the rollout of E-way bill, the nation's economy will again fell a bump in tax collection.
Plugging revenue leakages is essential, and encouragingly, Karnataka’s e-way bill experience in the first month saw very few glitches.
Given industry’s nervousness, the government must simplify the onerous rules proposed for e-way bills (a one-day validity for distances up to 100 km, for instance), ensure that the IT backbone is robust, and make inspections the exception, not the norm.
E way bill is an electronically generated document, required to be generated for the movement of goods of more than 50,000 INR from one place to other.
Required for inter-state and intra-state transportation. under GST regime this is necessary after 1st Feb 2018.
This is a replacement of VAT (value added tax) regime's way bill.
Way bill was a physically generated document necessary for inter-state movement of goods.
Who will have to generate the E-way bill ?
the E- way bill is required to be generated by every registered or unregistered person involved in the goods transfer regime .
The hindu newspaper article - 20th dec 2017 :
The Centre needs to do more to ease the shift to e-way bills for transport of goods
Already grappling with the "GOODS AND SERVICES TAX TRANSITION" Businessman are now more anxious about how the E-way bill will roll out.
Every goods moving more than 10 kms will require prior registration and generation of an e-way bill through the GST Network, which will be valid for varying duration depending on the distance traveled.
The problem is that few states have implemented this system and few hasn't . This poses an interim headache for firms operating across States, as they will now face differing compliance requirements for inter-State trade and intra-State trade, depending on when individual States launch their own e-way bill systems.
The exempted ones - Over 150 items of common use, including LPG cylinders, vegetables, food grain and jewelry, will be exempt from such transport permits, which can be checked by designated tax officials by intercepting a transporting vehicle. Goods moved on non-motorised conveyance, such as carts, have been left out.
Why the gov is concerned ?
In October, the GST Council had decided to introduce e-way bills in a staggered manner from January 1, with a nationwide roll-out on April 1, 2018
After a monthly ₹90,000 crore-plus inflow in the GST’s first three months, revenue in October plummeted to just over ₹83,000 crore.
With States claiming a revenue shortfall of about ₹40,000 crore so far under the GST, the Centre, which has to fill that gap, is also feeling the pinch.
Way forward :
Budget is less than 2 months now and economic advisors feels that with the rollout of E-way bill, the nation's economy will again fell a bump in tax collection.
Plugging revenue leakages is essential, and encouragingly, Karnataka’s e-way bill experience in the first month saw very few glitches.
Given industry’s nervousness, the government must simplify the onerous rules proposed for e-way bills (a one-day validity for distances up to 100 km, for instance), ensure that the IT backbone is robust, and make inspections the exception, not the norm.
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