Individuals, entrepreneurs and business concerns who are registered under GST need an additional e-way bill for their product invoice and delivery challan when the total value of the products cross a certain threshold. E-way bills were introduced as part of the GST comprehensive taxations law and came into effect from 1st March 2018.
What is an e-way bill?
E-way bill is an acronym for electronic way bill and it is a signed document that needs to be generated when the transferred goods or service products exceeds Rs 50,000 within state boundaries or interstate boundaries. An eway bill login is an unique identifier which displays consignment status on the goods that are being moved.
Methods of E-way bill generation:
There are also other multiple avenues under which bill can be generated. For example Android apps, SMS from registered mobile number and website integration through API are some of the alternative-ways through which e-way bill is generated.
After the e-way bill number is generated, the next step is its allocation and the same is made available to the goods recipient, goods supplier and the intermediary transporter.
Under what circumstances an E-way bill should be issued?
All movement of goods above Rs 50,000 should be followed by e-way bill generation. Certain individual states like Tamil Nadu have increased the limit to Rs 1 Lakh.
Important point
Business concerns should generate all the e-way bills under the same platform be it a smartphone app or website integration.
Some cases require that the e-way bill is to be generated even when the goods consignment invoice is less than Rs 50,000.
These cases are:
Goods which are sent by the principal to the individual job worker through interstate boundaries
Handicraft goods which undergo inter-state transportation and which are carried out by a dealer who is exempted from GST registration
What is the importance of generating and e-way bill in GST regime?
Any e-way bill generation is seen as a significant instrument of reform under the GST auspices. It was met with opposition it in its earlier stages, but it was successfully rolled out for effectively tracking goods movement from April 1st 2018 under the GST regime.
The previous name of e-way bill was road permit. Just like a road permit, the e-way bill is an amazing administrative tool to check and prevent tax evasion. The purpose of an e-way bill is to ensure proper documentation in the successful accompaniment of goods during their movement from the supplier to the buyer.
In other words any movement of goods between consignor and consignee requires the application of e-way bill. An eway login is a vital part of the state government’s tax administrative agenda. Under the new GST umbrella, the e-way bill takes a new birth and is enforced by the uniform application of laws across the country.
E-way bill system integrates a complaint system which offers the facility for transporters to lodge a complaint in case the vehicle undergoes detention in excess of 30 minutes. However, the e-way bill system is not without its teething troubles. Small businesses are not welcoming some measures such as indicating on the e-way bill and the limited validity of the generated bill.
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