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E-Way Bill mandatory in Union Territories from 25th May

E-Way Bill mandatory in Union Territories from 25th May

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The Central Government today notified that supplies within the Union territories would require E-Way Bill from 25th May 2018.GST E-way Bill

The notification issued today rescinded the earlier notification as per which, irrespective of the value of the consignment, no Eway bill shall be required to be generated where the movement of goods commences and terminates within the Union Territories.

Read More: All you need to know about EWay Bill System

In March, the Government notified that the supplies made within the territory of Chandigarh, Dadra and Nagar Haveli, Daman and Diu and Lakshadweep do not require E-Way Bill.

Under GST rules, ferrying goods worth more than Rs 50,000 within or outside a state will require securing an electronic-way or e-way bill through prior online registration of the consignment. In the 26th meeting, the GST Council has recommended the introduction of the E-Way Bill for inter-State movement of goods across the country from 01st April 2018. For intra-State movement of goods, Eway bill system will be introduced w.e.f. a date to be announced in a phased manner but not later than 01st June 2018.

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E-Way Bills, GSTR1 data to be matched to curb tax evasion

E-Way Bills, GSTR1 data to be matched to curb tax evasion

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To curb tax evasion, authorities will start matching details given in the Goods and Services Tax Return (GSTR1) Form Number 1 with those given in the e-way bill.GSTR1, e-way bills data to be matched to curb tax evasion

The matching will begin with returns to be filed for April as it is the first month when the tax authorities will have both GSTR1 and e-way bill data.

In the meantime, tax authorities have issued notices to over 8,000 assessees for differences in sales figures of more than ₹50 lakh in their GSTR1 and GSTR3B forms. Notices have been served on the basis of returns filed during August and December 2017. Based on their response, a decision will be taken on how much tax and penalty they need to pay.

“Matching process will ensure supply of goods have been done properly,” Prakash Kumar, CEO of GSTN, the IT backbone of the unified indirect tax system, told BusinessLine.

The logic behind matching is to plug any possible loophole in the filing of returns. All the GST assessees are required to file GSTR 1 either on monthly or on a quarterly basis while an e-way bill is required for movement of goods of value exceeding ₹50,000.

Commenting on the development, Rakesh Nangia, Managing Partner, Nangia & Co LLP, said the matching of details mentioned in GSTR-1 with the e-way bills will help in curbing tax evading practices as the invoice matching mechanism will be a significant tool in ascertaining the transaction details while matching it with the details furnished by the taxpayer.

“However, the said mechanism will be partly effective/beneficial since the only supply of goods can be traced by the matching concept. Further, the e-way bill is required on the movement of goods where consignment value exceeds ₹50,000,” he explained while adding that in cases where the value of goods does not exceed ₹50,000, matching would not be possible.

Also Read: GST – Eway bill: All you need to know and experiences

Action for mismatch

An option has been given on the e-way bill portal to take reports for particular tax period from e-way bill portal and match with tax invoices for outward supply and inward supply/delivery challan. Information about e-way bills, along with the transactions captured in GSTR1, will make it easy to spot mismatches in certain cases where an invoice has not been reported in GST return by the taxpayer or where the taxpayer fails to file his returns or furnishes wrong details.

“In such cases, notice may be served by the authorities demanding clarifications for a difference in tax amounts along with penalties. The said measures were adopted by the VAT authorities in the erstwhile regime also. Further in extreme cases, confiscation of goods, along with penalties may be imposed by the authorities,” Nangia said.

e-way bill was introduced from April 1. It is applicable for both inter-State and intra-States movement of goods, though the latter is being introduced on phases. So far, 18 States have adopted the e-way system. Maharashtra and 7 Union Territories will start the new system for the intra state/UT movement of goods from May 25 while the others will do so by June 3.

Also Read: Digital copy of Eway bill enough to give transporters right of way

E-way bill capacity

GSTN claims that there is the capacity to generate e-way bill up to 70 lakh every day. At present, on an average 11-13 lakh e-way bills are being generated every day. Nearly three-fourths of the e-way bills are related to inter-State trade while the remaining are for intra-State. However, once all the States start using e-way bill for internal movement, the ratio is expected to change to 50:50.

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Source: BusinessLine
GST E-way Bill: Objective, Features and Benefits

GST E-way Bill: Objective, Features and Benefits

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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

xattax GST E-way bill benefits

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.

XaTTaX: Your automated E-Way bill compliance is just a click away!

Stage set for GST E-Way Bill from April 1

Stage set for GST E-Way Bill from April 1

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With less than a week left for the implementation of the much-delayed E-Way Bill across the country, tax officials and businesses seem to be well prepared this time around.GST E-way Bill

“The IT system is fully geared up for the E-Way Bill. It has been thoroughly checked and can handle a much higher load,” said Prakash Kumar, Chief Executive Officer, GST Network (GSTN), adding that it has also gone through multiple rounds of testing.

The software for the E-Way Bill is being developed by the National Informatics Company and is being monitored by the GSTN.

In an interview to BusinessLine, Kumar said the system has been designed to generate as many as 75 lakh E-Way Bills per day with a higher throughput between 4 pm and 9 pm, when the traffic is expected to be higher.

“We have also opened it up to GSPs and have given APIs to large transporters who have over two lakh transactions every month. This will allow them to directly create e-way bills in bulk,” he said.

However, the major challenge has been that no one has an estimate of the number of trucks and vehicles transporting cargo in the country on a daily basis. “We tried various sources and also highlighted it with the GST Council,” Kumar said.

The E-Way Bill, which is an electronic ticket for movement of goods worth over ₹50,000 for distances above 10 km as part of the Goods and Services Tax, will be rolled out for inter-State transport from April 1.

For intra-State movement of goods, the E-Way Bill system is expected to be introduced in a phased manner from April 15, according to the GST Council decision earlier this month. All States will be on board by June 1.

Also read: GST E-Way Bill – key pointers that you need to know

Karnataka and Andhra Pradesh are expected to be among the first to introduce E-Way Bill for intra-State movement. “The country has been divided into four zones and depending on the preparedness of each State, they will roll out the E-Way Bill for intra-State movement in phases,” said another official.

The CBEC is understood to be in talks with commercial tax departments of States to work on the roll-out schedule.

The E-Way Bill had started on a trial basis from January 16 and was expected to be rolled out from February 1. However, it was deferred due to technical glitches on Day 1.

Meanwhile, after raising many concerns over possible delays and harassment, businesses too seem to have now become prepared for the E-Way Bill.

To address these worries, the CBEC had earlier this month notified amendments to the E-Way Bill rules relaxing several provisions such as allowing even job workers to generate these documents and providing for longer validity.

Industry players now say that many of their concerns have been addressed. Most businesses have also tried out generating E-Way Bills.

“Everyone is geared up. But what happens on April 1 and whether the system can take the load of lakhs of E-Way Bills being generated is the question. Also, we have to see how the ground-level implementation takes place,” noted an expert.

Welcoming the launch of the E-Way Bill, Anjani Mandal, Co-Founder and CEO of Fortigo, said: “It should not be delayed, but should be implemented uniformly across the country, including the date for implementation.”

While businesses are prepared for it, he, however, noted that instead of April 1, the E-Way Bill could have started from April 10 or 12 so that there is enough time for all shipments of the previous financial year to have left the factory and reached their destination.

XaTTaX: Your automated E-Way bill compliance is just a click away!

Source :  The Hindu Business Line
GST: What is an e-way bill and why is it important?

GST: What is an e-way bill and why is it important?

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e-way bill xattax

What is an e-way bill?

An e-way bill is a document that a person in charge of a conveyance carrying any consignment of goods of value exceeding Rs 50,000 is required to carry. It is a mandatory document that is generated from the GST Common Portal by registered persons or transporters who undertake movement of goods. A transporter needs to generate the e-way bill before the movement of goods commences.

Is there any scheme under GST for payment of taxes by small traders?

Composition levy is an alternative method of levying a tax that is designed for small taxpayers whose turnover is up to Rs 10 million. This scheme is optional and is meant mainly for small traders, manufacturers and restaurant owners. However, it is not available to a trader engaged in inter-state supplies. Further, a trader opting to discharge GST liability under the composition scheme will not be eligible to claim input tax credit of GST paid on inward supplies.

In the pre-GST regime, a special economic zone (SEZ) customer was required to provide Form A-2 to claim exemption from payment of service tax. Will a service provider be required to obtain a similar form from his customers for not charging GST?

Under the pre-GST regime, a service provider was not required to charge service tax on his invoice for services rendered to an SEZ customer if the latter provided Form A-2 wherein he was authorized to receive specified services from such service providers.However, under GST law, there has been a change of procedure.

Under this law, supplies to SEZs have been treated as zero-rated subject to execution of Letter of Undertaking/Bond by the service provider. GST law doesn’t require the SEZ customer to provide any specific form (such as Form A-2 under the service tax law).

If the GST rate on outward supply is less than the GST rate on inputs, what will be the treatment of input tax credit that gets accumulated? If the refund is available, then at what time can one apply and within what time will one get it?

GST law contains a specific provision wherein the supplier of goods or services can apply for a refund of input tax credit accumulated on account of inverted duty structure, except for a few categories.The refund can be applied for before the expiry of two years from the date on which the claim for a refund arises. Further, the supplier would be granted provisional refund within seven days from the receipt of an acknowledgment from the tax department.A person runs a grocery shop wherein he supplies goods worth Rs 50, Rs 200 and Rs 250 to three customers.

Under the GST regime, can he issue a consolidated tax invoice for all the supplies made at the end of each day?Under GST law, a separate tax invoice is not required to be issued in case the value of goods or services is less than Rs 200, subject to the condition that the recipient is not a registered person and he does not require such an invoice. In such cases, the registered person can issue a consolidated tax invoice for such supplies at the close of each day for all such supplies. But for supplies of Rs 200 or Rs 250, A will have to issue separate invoices.

Also read: GST: E-way bill must for interstate goods movement from 1 February.

At the time of filing GSTR-1, does one have to file invoice-wise details or can one file consolidated details if the supplies are made to unregistered persons?

GST law allows a registered person to file the details of outward supplies in a consolidated manner in cases of intra-state supplies made to an unregistered person or inter-state supplies to an unregistered person where the invoice value is up to Rs 250,000.

XaTTaX: Your automated E-Way bill compliance is just a click away!