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GST: All you need to know about E-Way Bill System

GST: All you need to know about E-Way Bill System

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E-way bill is an online document generated by the govt portal www.ewaybillgst.gov.in evidencing movement of goods of consignment value more than Rs 50,000.

XaTTaX: Know about E-way Bill
The finance ministry of india has sought a report from GSTN (GST Network), the IT-backbone provider for GST, on glitches in the system that derailed the anti-tax evasion e-way bill system. Eway bill is aimed to bring uniformity across the states for seamless inter-state movement of goods.

Here are the key things to know about the online document:

What is an e-way bill?

Form GST EWB-01 (eway bill)  is an online document (available to supplier/recipient/transporter) generated on the common govt.portal (http://www.ewaybillgst.gov.in) evidencing movement of goods of consignment value more than Rs 50,000. It has two components –

Part A comprising of details of GSTIN of supplier and recipient, place of delivery (indicating PIN code also), document (Tax invoice, Supply Bill, Delivery Challan or Bill of Entry) number and date, a value of goods, HSN code, and reasons for transportation.

Part B comprising of transport details – transport document number (Goods/Items Receipt Number or Railway Receipt Number or Airway Bill Number or Bill of Lading Number) and Transport vehicle number for the road.

Who should generate e-way bill?

The Eway bill needs to be generated by the consignor or consignee (if the transportation is being done in own/hired conveyance or by railways by air or by vessel) or the transporter (if the goods are handed over to a transporter for transportation by road). When neither the consignor nor consignee generates the e-way bill and the value of goods is more than Rs 50,000, it will be the responsibility of the transporter to generate it.

Can users update their business name, address, mobile number or email-id in the e-way bill system?

The billing system will not allow updating the above details directly. The taxpayer has to change the details at GST Common portal, from where it will be updated in the e-way bill system.

Whether information submitted to the e-way bill can be used for filing GST returns?

The information furnished in the Part-A of the Electronic way bill on the common portal can be utilized for furnishing details in GSTR-1.

What is invoice reference number?

A registered person can obtain an Invoice Reference Number from the common portal by uploading the tax invoice issued in Form GST INV-1. The tax invoice and reference number will be valid for a period of 30 days from the date of uploading.

Can the e-way bill be canceled if the goods are not transported after generation of the e-way bill?

In cases where an e-way bill has been generated, but goods are either not being transported or are not being transported as per the details furnished in the e-way bill, the Eway bill can be canceled electronically on the common portal within 24 hours of generation.

What are the modes of e-way bill generation?

Apart from the option to generate the bill from the common portal, it can also be generated or canceled through SMS. When an Eway bill is generated, a unique e-way bill number (EBN) is allocated and is available to the supplier, recipient, and the transporter.

If you have any questions about GST or Eway bill system or would like to know how you can easily transition to GST with minimum disruption to your business, please write to marcom@sailotech.com or visit our site www.xattax.in

GST E-Way Bill: Generation Process,Validity, Rules and Regulation

GST E-Way Bill: Generation Process,Validity, Rules and Regulation

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GST E-way bill can be generated from GST common portal for e-way bill system – ewaybillgst.gov.in.

GST E-Way Bill

The E-Way (electronic way) bill system under Goods and Services Tax (GST) for inter-state movement of goods came into effect on 1st April ,2018. GST E-Way bill is a document required to be carried by a person in charge of the conveyance carrying any consignment of goods of value exceeding Rs. 50,000, as mentioned by CBIC (Central Board of Indirect Taxes and Customs). E-way bill can be generated from GST portal for E-Way bill system – www.ewaybillgst.gov.in by the registered persons/Business or transporters who cause movement of goods of consignment before commencement of such movement, informed CBIC.

1. Requirement of GST E-Way bill

Section 68 of the GST Act mandates that the government may require the person in charge of a conveyance carrying any consignment of goods of value exceeding Rs. 50,000 to carry with him such documents and such devices as may be prescribed, said CBIC in the circular. Rule 138 of CGST (Central Goods and Service Tax) Rules, 2017 prescribes E-Way bill as the document to be carried for the consignment of goods in certain prescribed cases.

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2. Generation of GST E-Way bill

According to Central Board of Indirect Taxes and Customs (CBIC), the consignor or consignee, as a registered person or a transporter of the goods can generate the E-Way bill from the common portal by using the Goods and Services Tax Identification Number (GSTIN). The unregistered transporter can enroll on the common portal and generate the E-Way bill for movement of goods for his clients. Any person can also enroll and generate the E-Way bill for movement of goods for his/her own use, said CBIC.

3. Validity period of GST E-Way bill

Validity of the E-Way bill depends upon the distance the goods that have to be transported. In case of regular vehicle or transportation modes, for every 100 km or part of its movement, one day validity has been provided. In case of over dimensional cargo vehicles, for every 20 km or part of its movement, one day validity is provided. This validity expires on the midnight of last day, informed CBIC. The validity period of the E-Way bill can be easily calculated. For example, if an E-Way bill is generated at 00:04 hrs on April 3. Then first day would end on 12:00 midnight of April 4-5. Second day will end on 12:00 midnight of April 5-6, and so on.

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

 

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

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

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GST e-way bill xattax

A lot of buzz has been generated recently around E-Way Bill as part of the GST compliance mechanism, similar to what Input Tax Credit has generated few months back with government all set to rollout this very soon. This blog provides an overview of GST E-Way Bill and its significance without getting much into the technical and operational aspects.

What is an E-Way Bill?

An E-way Bill is an electronic way bill that needs to be generated online (via GST portal) for movement of goods either for inter-state or intra-state sales. This E-Way bill needs to be raised before the goods are shipped and should include information such as details of the goods, their consignor, consignee and transporter. As support documents, a transporter needs to carry the invoice and the copy of the Eway Bill for goods, which are being transported.

Though check posts have been abolished under the new GST regime, a consignment can be intercepted at any moment during the goods transit for verifying the E-Way Bill. In case a transporter fails to show an E-Way Bill for the consignment, a penalty of Rs. 10,000 or tax sought to be evaded, whichever is greater can be levied.

GST offers flexibility to let any of the parties of a transaction, either the consignor or the consignee to generate the E-Way Bill, provided they are registered parties. Whatever may be the mode of transport of goods – either by air, rail or road, the E-Way Bill must be mandatorily generated. In a scenario, where goods are handed over to the transporter and neither of the parties – a consignor nor a consignee generates the E-Way Bill, the onus lies on the transporter to generate it.

When either of the parties generates the E-Way Bill, the recipient of the consignment is bound to either accept or reject it on the portal. In case there is no response (no action is taken) from the recipient within 72 hours, it shall be deemed to have been accepted. For generating an E-Way Bill from the portal, the registered party should have a portal login.

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

Why is it important?

The primary objective of GST is to unify India with a common in-direct taxation system. One of the most significant aspects of GST is the removal of the inter-state check posts – particularly the transit delays encountered in some states like Rajasthan, Maharashtra, Bihar or Jharkhand. It is expected that both the GST levy and E-Way Bill would weed out such transit delays and at the same time, helps in plugging issues related to tax evasion.

Technically speaking, every E-Way Bill that is generated by a consignor or a consignee is to be automatically updated in the GSTR1 (sales return) of the supplier, thus providing minimal scope for tax evasion on shipments. In the earlier tax regime, officials used to cross-check the way bills with the filed tax returns to verify whether all the consignments were covered within the tax net or not.

On the other hand, a single GST E-Way Bill for the movement of goods throughout the country is expected to save the lot of paperwork and do away with various inter-state clearances for consignors, consignees, and transporters. Earlier, every state used to frame its own rules for the transportation of goods from one place to another.

 Is it relevant to me?

As per a McKinsey report, logistical hurdles cost the Indian Economy an extra $45 billion or 4.3 per cent of GDP every year. Hence, any change in the existing regime that can provide even small benefits is appreciable. Also, the LPI Survey by World Bank states that the logistical costs in India are much higher (14%), compared to other major countries (6-8%). With the integration of GST E-Way Bill, it is expected that the logistics costs would get trimmed by 20 per cent. While the picture looks rosy on paper, it is completely dependent on the GST backbone to work perfectly to overcome any errors and mismatches, even when encountering heavy traffic.

Conclusion

What we expect is a smooth sailing for businesses through the introduction of this new GST E-Way Bill, despite minor glitches. This should become another milestone in the economic progress of the country, ensuring tax compliance at the highest level.

XaTTaX:  E-way Bill Software | GST Ready Invoicing Software | Generate GST Compliant Invoice‎