From April 1st 2018 onwards, transporters and businesses have to be caution to carry Electronic or E-way bill for the movements of Goods. The businesses that carry goods having a worth more than 50000 should have to keep E-way bill for inter-state movements of goods.
Electronic way Bill system will help the Government to track all the inter-State movement of goods worth above Rs 50000/-.
With the introduction of e-way mechanism, the Government aims to bring transparency and accountability in transactions which would eventually curb tax evasion and thereby protect the interests of Revenue.
Earlier, the Government launched the E-way Bill on 1st February 2018. However, the same was withdrawn due to some major glitches in the common portal.
The Goods and Services Tax (GST) Council, in its 26th meeting held at New Delhi, decided to rollout E-Way Bill which is mandatory for inter-State transportation of goods from 1st April and for intra-State transportation from 15th April.
Now this turn brings a major milestone in the history from tomorrow onwards. The E-way Bill system has been designed and modified by National Informatics Centre (NIC) in such a way that can make 75 lakhs of inter-state EWS daily without any technical glitch.
To ensure a fool proof system, the GSTN has activated only that facility on its portal where e-way bill can be generated when goods are transported from one state to another by either road, railways, airways or vessels.
GST Network had advised all the transporters to register with the portal for trial on how to generate e-way bills. Now the system developed after a series of test so that it doesn’t create any obstacles during its operations.
Till earlier this week, 11 lakh entities had registered on e-way bill portal. Currently, 70 lakh businesses registered with the GST portal results about 70 lakh and filing monthly returns.