GST E-Way Bill to be Implemented from 1st February

GST E-Way Bill to be Implemented from 1st February

The E-way bill is an electronic waybill for movement of goods which you can generate on the GSTN Portal. A registered person can not make the movement of goods above the value of Rs 50,000 without an e-way bill. Government delayed the requirement of carrying e-way bill due to the pending IT network. However, the implementation of GST E-Way Bill from 1st February 2018 will require the transporters to carry an electronic waybill; while moving goods between states. The government has implemented the E-way bill to check prevailing tax avoidance as well as to boost revenues by 15%-20%. It will lead to the uniformity across the states for seamless inter-state movement of goods.

GST E-Way Bill to rollout from 1st February

GST E-Way Bill to be Implemented from 1st February

The e-way bill system for inter-state movement will be effective from 1st February while for intra-state movement from 1st June. Trade and transporters have the option of using this system from 16th January. The official told that the states have the option of choosing when they want to implement the intra-state e-way bill between 1st February & 1st June. States also have the choice to exempt the movement of goods within the radius of 10 km. Government has exempted all the necessary products from the necessity of carrying e-way bill.

With the implementation of the e-way bill system, it would be tough for the purchaser or supplier to avoid tax since the government would have the details of all goods transported above the value of Rs 50,000. The Government would be able to quickly find the mismatch regarding the ITR whether filed by the purchaser or supplier or not. It will contain the details of supplier, buyer, and goods; being transported.

As per the official, a pilot of the e-way bill has been successfully operated in Karnataka, and the IT system is fully prepared to meet any requirement.

A registered person can not make the movement of goods of more than Rs 50,000 in value without an e-way bill. You can generate or cancel the e-way bill through SMS. A unique e-way bill number (EBN) will be allocated & available to the supplier, recipient, as well as the transporter. GST E-Way Bill

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