GST Council of the Central Government rolls out PAN India E-Way Bill for goods transportation and makes it compulsory from 1 June 2018. Subsequently, all the transporters have to secure an electronic-way (e-way) bill for the transportation of goods of Rs. 50,000 or more value within the boundaries of state (intra-state) or outside the state (inter-state).
This E-way Bill will bring uniformity in the intra-state and inter-state movement of goods. GST Council will put forward the national e-way bill system for implementation till 16 January 2018 for trial. Moreover, states can choose any date for its compulsory implementation before 1 June 2018.
This bill is introduced to remove the disruptions in the movement of goods in the entire country. This document for this bill will be provided from 1 April 2018 and is compulsory for all transporters after 1 June 2018.
E-Way Bill Generation Mechanism
The procedure to generate e-way bill is as follows:-
- Firstly, candidates have to make registration on the GST Portal
- Subsequently, both the suppliers and transporters must upload the details of consignment of goods on the portal.
- Afterwards the supplier, transporter and the recipient will get a unique E-Way Bill Number (EBN).
Reasons To Implement E-Way Bill
The reasons for the early implementation of this bill are as follows:-
- Downfall in the revenue on account of Goods and Services Tax.
- Tax evasion
- Un-accountability of tax payers on goods crossing the border of the state.
Moreover, the inter state electronic-way bill is compulsory from 1 February 2018 for inter state movement of goods. In addition to this, intra-state e-Way bill is compulsory from 1 June 2018 for movement of goods within state.
This bill is necessary to prevent tax evasions. Central Govt. makes this bill compulsory as the govt. notices some serious gaps in the system for goods movement. This bill will forcefully maintain the accountability of tax payer if the invoices are not matched.
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