From April 1, it has become mandatory to generate an e-way bill for transfer of goods worth Rs. 50,000 or more. It is expected to boost tax collections by cutting down on trade that happens on cash basis.
An estimate of 17 lakh e-way bills have so far been generated by businesses and transporters since the launch of GST anti-evasion measure on April 1, 2018. The numbers have shown a remarkable increase from 2.59 lakh bills generated on April 1 to 6.5 lakh and 8.15 lakh bills in the subsequent two days.
Among the states, Gujarat has the highest number of e-way bills generated from April 1- 3 April. It is followed by Karnataka at 2.65 lakh bills generated online for intra-state movement of goods.
For an intra-state transfer of goods, you need to generate an e-way bill on the GST portal. All kinds of edible oils, taxable oil seeds, oil cakes, Iron and Steel, Ferrous and Non-Ferrous Metal and scrape thereof, Ceramic tiles, Brass parts and brass items, processed tobacco and products thereof, cigaratte, gutkha and pan masala, All types of yarns, All types of plywood, block board, Decorative and Laminated sheets, Coal including coke in all its forms, Timber and timber products, Cement, Marble and Granite, Kota Stones, Naphtha, Light Diesel oil, Tea (in leaf or Powder form) require an e-way bill.
The e-way bill generation for the inter-state transfer of goods began from 1 April and intra-state from 15 April. There has been a smooth functioning of the e-way bill system since its implementation. It is being implemented across the nation under GST regime by GST network in association with the National Informatics Centre (NIC). It is said to able to hold as many as 75 lakh inter-state e-way bills on a daily basis.
The data generated from e-way bills would help the government build analytics around tax collections on a real-time basis.
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