E way bill is an electronic way bill which is generated on the common portal where there is movement of goods from one place to another and also where value of goods exceeds fifty thousand rupees in the following cases:
Three Parties involved in E way Bill
Trade and Transporters can voluntarily start using this Eway bill system from 16th January, 2018. But from 1st February, 2018, it is mandatory for transporters to generate e way bill in case of inter-state movement of goods. So far as Intra state movement of goods are concerned, they may choose their own timings for implementation on any date before 1st June, 2018. The rules for implementation of nationwide e-way bill system for inter State movement of goods on a compulsory basis will be notified with effect from 1st February, 2018.
As of now following states have notified e way bills:
|E-way bill will also be allowed to be generated or cancelled through SMS.|
Where an e-way bill has been generated, but goods are either not transported or are not transported as per the details furnished in the e-way bill, the e-way bill may be cancelled electronically on the common portal, either directly or through a Facilitation Centre notified by the Commissioner, within 24 hours of generation of the eway bill.
|Across nation, E-way Bill system will be ready to be implemented from 16th January, 2018 on trial basis.|
Reason of issuing E way Bill
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.
Validity of E way Bill
The validity of an eway bill depends on the distance travelled by the goods as per the below mentioned table:
|Upto 100 km||One day|
|For every 100 km or part thereof thereafter||One additional day|
Author: C S Ekta Maheshwari is the Author of this article and is a Practicing Company Secretary. The Author can be reached at [email protected]
Disclaimer: The entire contents of this article is solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation.. It doesn’t constitute professional advice or a formal recommendation. The author has undertook utmost care to disseminate the true and correct view and doesn’t accept liability for any errors or omissions. You are kindly requested to verify & confirm the updates from the genuine sources before acting on any of the information’s provided herein above.