GST E-way Bill: Objective, Features and Benefits
GST E-way bill is an electronic bill, which will be necessary for the movement of goods in the value of goods exceeding Rs. 50,000. The E-Way bill can be generated from the GSTN portal and every registered taxpayer needs to have this E-Way bill with the goods transferring.
Objectives of GST E-way Bill
- In order to transfer the goods after the e-way bill is introduced, the need for the requirement of separate transit pass in each state will be eliminated.
- To move from departmental police model to self-declaration model for the movement of goods
- Single e-way bill for hassle-free movement of goods across the country
Features of GST E-way Bill
- A user can monitor E-way bills generated on his/her account behalf
- Multiple models for E-way bill generation for ease of use
- A user can create the master of customers, suppliers, and products for ease of generation of E-way bill
- QR code is printed on each E-way bill for ease of seeing details
- A user can create sub-user and roles on the portal for generation of E-way bill
- Alerts are sent to users via mail and SMS on registered mail id/mobile number
- Vehicle number can be entered either by supplier/recipient of goods who generates E-way bill or transporter
- The generator of the e-way bill can cancel it within 24 hours
- The recipient of the goods can accept or reject the e-way bill if it is not within its 72-hour generation
- Consolidated e-way bill can be generated for a vehicle carrying multiple e-way bill consignment
Benefits of GST E-way Bill
- After the applies of e-way bill taxpayers and transporter will not have to cut the rounds of officers and checkpoints to generate e-way bills of goods in other and same states.
- Enables optimal speed of goods and optimum use of vehicles/resources as waiting time at checkpoints will end.
- All of the systems are user-friendly
- Due to online system time will be lapsed to the easy and quick generation of e-way bill
- Smoother and simple tax administration, processing and verification of e-way bill by tax officers
To know more about E-Way Bill and how we can help you get GST E-Way bill solution, please get in touch with us at gst@xattax.in or call us at +91 8099 512513.