More than 4.27 crore E-Way Bills generated in June 2020 against average of 5.3 cr per month of pre-COVID period.
Value of E-way bills generated in June is close to pre-lockdown figures.
Unlock 2.0 set to witness a further surge.
New Delhi, 5thJuly 2020: E-way bill generation data, one of the prominent indicators of economic activity has seen a tremendous recovery during the unlock 1.0. The E-way generation which used to be around 20 lakh a day, in regular times, had drastically come down after the enforcement of the lockdown. March 2020 witnessed the steepest fall in E-way bill generation plunging to a low of approximately 0.50 lakh on 25th March, the lowest figure on the first day of the nation-wide lockdown.
However, with the phase-wise relaxation announced by the Government, the trend had started moving upwards and after the Unlock 1.0, the e-way bill generation is nearing full recovery. June 30, the last day of Unlock 1.0 ended with the generation of 18.32 lakhs e-way bills with a value of over Rs. 54,500 crore, which is the highest since the enforcement of the lockdown.
E-way bill is required to be generated by a registered GST taxpayer for the movement of goods if the value of the consignment is more than Rs. 50,000 for inter-state movement. For intra-state movement, limits vary from state to state. Look at how the E-way bill generation witnessed a roller-coaster ride before, during and after the lockdown.
|Period||Average no. of E-way bills generated||Highest no. of E-way bills generated on a single day||Lowest no. of E-way bills generated on a single day|
(25th Jan to 24th March 2020)
|18.49 Lakhs||25.19 Lakhs
|Lockdown Phase 1
(25th Mar to 14th Apr)
|1.72 Lakhs||2.55 Lakhs
|Lockdown Phase 2
(15th Apr to 3rd May)
|3.51 Lakhs||5.15 Lakhs
|Lockdown Phase 3
(4th May to 14thMay)
|6.75 Lakhs||8.78 Lakhs
|Lockdown Phase 4
(15th May to 31st May)
|9.84 Lakhs||13.68 Lakhs
(1st June to 30th June)
|14.26 Lakhs||18.32 Lakhs
In a month on month comparison, April witnessed a sharp dip as the numbers reached 84.53 lakhs E-way bills having a total value of Rs. 3.90 lakh Crores. With the ease in restrictions, the number grew rapidly between May and June. The data substantiates that the Indian economy is gathering pace with the movement of goods rebounding close to pre-lockdown levels and goods and services tax (GST) collections rising sharply.
Monthly Analysis of E-way Bill generation: November 2019 to June 2020
Monthly Analysis of Value of E-way Bills: November 2019 to June 2020
It is evident from the month on month comparison of generation of e-ways bills, both in terms of numbers and value that economic activities are on upswing and on road to recovery. The upwards trend means Unlock 2.0 is going to have more reasons to cheer.
As part of easing compliance burden, the e-way bill validity was extended to ensure the hassle-free movement of cargo which were stuck en-route during the lockdown.
Based on the current trend, it is expected that the cargo movement will further accelerate in the Unlock 2.0, which along with other indicators is a healthy sign of an early economic recovery and stability.
Goods and Services Tax Network (GSTN) is a Section 8 (under new companies Act, not for profit companies are governed under section 8), non-government, private limited company. Instituted in March 2013, the Company has been set up primarily to provide IT infrastructure and services to the Central and State Governments, taxpayers and other stakeholders for implementation of the Goods and Services Tax (GST).