To prevent smuggling and unlawful moments of goods significant efforts were being made by the Government authorities. We often see in the border areas of states where barricade system are led down and commercial vehicle is stopped and documents like invoices/bills/consignment note were checked by the authorities causing many hurdles including delay and wastage of time because of manual checking. Further the genuineness of those document and the tracing trails were also one of the biggest challenge.
To overcome this, a significant step is proposed to be introduced in the GST regime where E-Way bill will be issued, which will cause smoother movements of goods from one place to another. E way bill will be a document generated from GSTN portal, which will carry unique identification number know as E-way Bill number (EBN), which will have all the details of the transaction and it will also create appropriate trail so that the transaction can be traced from its inception to the end. The finance ministry has issued draft Electronic way rules. The snap shot of the same are as follows,
1. Applicability: Registered Taxable person who causes movement of goods consignment value exceeding fifty thousand rupees in relation to
|A SUPPLY||OTHER THAN SUPPLY||
DUE TO INWARD SUPPLY FROM AN UNREGISTERED PERSON (Note)
Note – Where the goods are supplied by an unregistered supplier to a recipient who is registered, the movement shall be said to be caused by such recipient if the recipient is known at the time of commencement of movement of goods.
2. Who will Generate the E Bill:
|Registered person||:||As a consignor or the recipient of supply as the consignee|
|Transporter||:||Goods are handed over to a transporter by registered / unregistered person|
|Unregistered person||:||The movement is caused by an unregistered person either in his own conveyance or a hired one or through a transporter.|
3. Multiple Conveyance or Multiple consignments :
|Multiple Conveyance for single consignment||Multiple consignments in a Conveyance|
|Generate a new e-way bill before such transfer and further movement of goods from one Conveyance to other.||Transporter shall indicate the serial number of e-way bills generated in respect of each such consignment electronically on the common portal and a consolidated e-way bill in FORM GST INS-02 shall be generated prior to moment of Goods.|
4. Validity Of E-Way Bill (From Time Of Issuance) :-
|Upto 100 km||One day|
|100 km – 300km||Three days|
|300 km – 500km||Five days|
|500 km – 1000km||Ten days|
|1000 km or more||Fifteen days|
5. Other Key Aspects : –
6. Forms under E-Way Bill:-
|Form||Furnished by||Details Containing|
|FORM GST INS-01||Registered Person||Part A||Information of Goods (Before commencement of movement)|
|Part B||Information of Transporter (to generate the e-way bill)|
|FORM GST INS-02||Transporter||Multiple consignments (indicating serial number of e-way bills generated in respect of each consignment)|
|FORM GST INS – 03||Proper officer||Part A||Summary report of every inspection of goods in transit shall be recorded online (within 24 hours of inspection )|
|Part B||Final report (within 3 days of the inspection)|
|FORM GST INS- 04||Transporter||Vehicle has been intercepted and detained for more than 30 minutes|
**References – Draft E Way Bills available on CBEC website.
Declaration : The article submitted is my original work and has not been copied from any where and represent my own views on the captioned topics.
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018