Login With Google
E-waybill likely from April 1
.
Why in the news ?
- A group of state finance ministers (GoM) proposed e-way bill system for inter-statemovement of goods over Rs 50,000 in value and 10 km in distance will be rolled out from April 1.
More on news
- The e-way bill is generated on the GST Network — a common info sharing technology (IT) infrastructure between the Centre and States.
- The recommendations of the GoM are expected to be taken up for discussion by the GST Council in its next meeting on March 10.
- GoM would also look into returns filing timeline of small taxpayers. The Council in October had allowed small businesses with turnover upto Rs 1.5 crore to file quarterly returns.
- Tax experts said the phased launch of e-way bill will enable businesses to become ready over a period of time and will give time to the GSTN to overcome glitches during the initial phase.
- E-way bill for intra-state movement of goods, however, should be done in a phased manner after 8-10 days of the inter-state e-way bill rollout.
E-way Bill
- E-Way Bill is an electronic way bill for movement of goods which can be generated on the e-Way Bill Portal.
- Transport of goods of more than Rs 50,000 in value cannot be made by a registered person without an e-way bill.
- 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.
- An ‘e-way bill’ system offers the technological framework to track intra-state as well as inter-state movements of goods of value exceeding Rs 50,000, for sales beyond 10 km in the new Goods and Services Tax (GST) regime.
- Any supplier/recipient/transporter can generate an e-way bill.
- Once this is generated, there will be no need to fill the requisite information in the GST return, as there will be an automated filing of GSTR-1 (which records the details of sales made by a seller to a buyer).
- Digital facilities via SMS/Android apps will also be provided for the generation of e-way bills. The National Informatics Centre (NIC) has developed a separate portal for the e-way bill.
- The GST Council exempted 154 items of common use, such as meat, fish, curd, vegetables and some cereals, human blood, LPG for households and kerosene for the Public Distribution System (PDS).
Source
The Hindu, Indian Express