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What is the e-way Bill under GST in India
Electronic Way Bill (E-Way Bill) is basically a compliance mechanism wherein by way of a digital interface the person causing the movement of goods uploads the relevant information prior to the commencement of movement of goods and generates e-way bill on the GST portal. In GST, A Registered Dealer who intends to transports Goods exceeding Rs.50000 or more should generate E-way bill.
An e-way bill is a permit needed for inter-state and intra-state transportation of goods worth more than Rs. 50,000. It contains details of the goods, the consignor, the recipient and the transporter. It can be electronically generated through the GSTN. E-way bill is a mechanism to ensure that goods being transported comply with the GST Law and is an effective tool to track movement of goods and check tax evasion.
Procedure for generating E-way bill
E-Way Bill is the short form of Electronic Way Bill. It is a unique document/bill, which is electronically generated for the specific consignment/movement of goods from one place to another, either inter-state or intra-state and of value more than INR 50,000, required under the current GST regime. E-way bill is a mechanism to ensure that goods being transported comply with the GST Law and is an effective tool to track movement of goods and check tax evasion.
Eway bill must be generated when there is a movement of goods of more than Rs 50,000 in value to or from a registered person. A Registered person or the transporter may choose to generate and carry eway bill even if the value of goods is less than Rs 50,000.
- If a registered dealer located in one state, agreed to make an outward supply of goods worth Rs.73,000 to another dealer . For delivering the goods the transferor has to hand over the goods the transporting agency.
- Transferor has to file GST-INS-01 contains part-A relating to Details of goods and part-B relating to details of transportr.
- Transporter needs to generate e-way bill based on the details furnished in Part-A of GST-INS-01.
- Generated e-way bill contains a unique e-way Bill number(EBN) which will be sent to Goods transferor, transferee and to the transporter.
- Transferee will receive the e-way bill for acceptance as per the details mentioned in GST-INS -01.
- The transporter or the person in charge of conveyance should carry the invoice or bill of supply and A physical copy of the e-way bill or the unique e-way bill number.
- Which should be submitted, when the officer intercepts the vehicle for physical verification.
- For certain class of transporters, fixing of RFID(Radio Frequency Identifacation Device) devices to the vehicle and mapping of e-way bill to device will be mandated. This will be notified by commissioner.
- At the place of verification, the e-way bill mapped to this device will be verified through RFID readers.
Validity of e-way Bill
E-way bill is an electronic waybill generated on the GST portal for the movement of goods. Any supplier/agent is transporting goods where the consignment value greater than Rs. 50,000 is required to generate and produce this e-way bill. The part B containing transport detail is used to generate the e-way bill.
The validity of e-Way bill and how to generate e-Way bills is based on the distance. The validity will be counted from the generation of e-Way bill. The Validity of e-Way bill may be extended by the commissioner for certain type of goods as specified in the notification applicable.
‘e-Invoicing’ or ‘electronic invoicing’ is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. … All invoice information will be transferred from this portal to both the GST portal and e-way bill portal in real-time.
e-Invoicing is mandatory from 1st October 2020 to all businesses whose aggregate turnover has exceeded the Rs. 500 crore limit in any of the previous financial years from 2017-18 to 2019-20. From 1st January 2021, e-invoicing became applicable to businesses
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Questions on GST e-Way bill
Who should generate the e-Way bill?
When goods are transported by a registered person, either acting as a consignee or consignor in his own vehicle or hired, the supplier or recipient of the goods should generate the e-way Bill.
When the goods are handed over to a transporter, the e-way bill should be generated by the transporter. In this case, the registered person should declare the details of the goods in a common portal.
In case of inward supplies from an unregistered person, either the recipient of supply or the transporter should generate the e-way bill.
Can the e-way bill be generated for consignments of value less than Rs.50,000?
Yes, either a registered person or a transporter can generate an e-way bill although it maynot be mandatory.
What happens if e-way bill is generated but goods are not transported?
An e-way bill can be cancelled electronically on the common portal within 24 hours of its generation. An e-way bill cannot be cancelled if it has been verified by an officer during transit.