E-way bill under GST

by GST MITRA GST Registration| Online GST Application Process

E-Way Bill is the short form of Electronic Way Bill and this document is a unique document or bill, which is electronically generated for the specific movement/consignment of goods from one place to another place, either intra-state or inter-state and of value more than INR 50,000, required under the current GST regime.

According to the latest update on 23rd Mar 2018, Generation of the e-Way Bill under GST has been made compulsory from 1st April 2018.

Who should generate an e-Way Bill under GST?

E-way Bill is needed to be generated prior commencement of movement of Goods, when the two conditions are satisfied which is supply is an interstate supply, and value of Goods in an individual consignment exceeds Rs. 50000.

GST Registered Person:

When a person registered under GST, causes the movement of goods/consignment, either in the capacity of a consignee (i.e., buyer) or consignor (i.e., seller) in his/her vehicle & a person causes the movement of goods and hands these over to the transporter for transportation by road, but the e-Way Bill under GST has not been generated, then it is the transporter who needs to generate the bill.

Time of issue e-way bill:

Ideally, e-Way Bill should be generated before the commencement of movement of goods above the value of INR 50,000 (either individual invoice or consolidated invoice of multiple consignments). The movement of goods will be either about a supply/ reasons other than supply (like return)/ inward supply from an unregistered person.

For purposes of an e-Way Bill, supply is considered either a payment in the course of business/ a payment which may not be in the course of business/ no consideration of payment (in the case of barter/ exchange).

Latest update as on 23rd Mar 2018
the transporters need not generate the Eway bill (as Form EWB-01 or EWB-02) where all the consignments in the conveyance, single Document is less than or equal to Rs 50,000 but all documents put together) exceeds Rs 50,000.

Advantage and disadvantage of E-way bill under GST

The first advantage of the e-way bill under GST is less documentation in which all the exiting state-wise documentation required for the movement of goods will never again is required. Another benefit that is available for the transporters is the establishment of RFID device in the vehicle used to transport consignment on a regular premise.

The 2nd advantage of the e-way bill under GST is efficient transportation It would increase the efficient & speed of transportation.

In India, a truck covers an annual average distance of around 85 thousand km as compared to 1.5 lakh to 2.5 lakh km in developed countries which pose a clear indication that our transportation systems need some reforms. E-way would help to reform the industry.

User-friendly e-way bill system: – E-way bill systems & portal is very user-friendly and easy. Even dealers can easily self-download the e-way bill.