E-way bill for inter-state goods movement should be implemented from 1 April, recommends GoM
E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN (common portal)
New Delhi: The GST provision requiring transporters to carry an electronic way bill or e-way bill when moving goods between states should be implemented from 1 April, a group of state finance ministers recommended on Saturday.
E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN (common portal). Movement of goods of more than Rs 50,000 in value cannot be made by a registered person without an e-way bill.
GoM head and Bihar Deputy Chief Minister Sushil Kumar Modi said the requirement for intra-state movement of goods of more than Rs 50,000 value would be introduced in phases after assessing the response for inter-state movement.
After implementation of the Goods and Services Tax (GST) from 1 July, the requirement of carrying e-way bill was postponed pending IT network readiness. It was implemented from February 1 but the system crashed and its implementation was deferred.
Modi said the recommendation of the panel would be considered by the GST Council at its meeting on 10 March.
Besides plugging tax evasion, the e-way bill is supposed to boost revenues by 15-20 percent.
The e-way bill can also be generated or cancelled through SMS. When an e-way bill is generated, a unique e-way bill number (EBN) is allocated and is available to the supplier, recipient, and the transporter.
Net direct tax collection in the April-June quarter of the current fiscal is over Rs 2.46 lakh crore, as against more than Rs 1.17 lakh crore during the same period of the previous fiscal
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Goods and Services Tax collection in July 2020 was Rs 87,422 crore. Sequentially, it slipped below Rs 1 lakh crore mark to Rs 92,849 crore in June 2021