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GST is an Indirect Tax which has superseded many Indirect Taxes in India. The Goods and Service Tax Act came into effect on Chartered Accountant's Day, i.e., 1st July, 2017. Act provides for the authorization of an eligible person to act as a approved GST service provider/ practitioner. An enrolled person may authorize an approved GST service providers in Delhi NCR to supply particulars, on his behalf, to the Government.

The Goods and Services Tax (GST) Council has introduced compulsory compliance of e-way Bill for movement of goods from one state to another from 1st February, 2018.

What is E-Way Bill?

E-way bill is an electronic document generated in form GST EWB-01 on the GST portal indicating movement of goods. It has two components:

  • GSTIN of recipient, place of delivery, invoice number and date, value of goods with HSN code and reasons for movement of goods.
  • Transporter's Detail (Vehicle Number)

An E-way Bill is essential for transport of goods worth more than INR 50,000/- in value. A unique e-way bill number (EBN) is assigned and is available for the parties concerned, i.e. supplier, recipient, and the transporter.

When to generate E-Way Bill?

The E-way Bill needs to be generated before the initiation of transport of goods.

Documents required to generate E-Way Bill?

  • Invoice/ Challan/ Bill of Supply related to the consignment of goods.
  • In case of transport by road: Transporter ID or Vehicle number.
  • In case of transport by rail, air or ship: Transport Document number, Transporter ID and date on the document.

What is the Validity of E-Way Bill?

An E-way Bill is valid for periods, which is based on the distance travelled by the goods. Validity is calculated from the date and time of the bill:

  • Less than 100 Km: 1 Day
  • Every 100 Km or part thereafter: 1 additional day

The validity period of the E-Way Bill may be extended by the commissioner for certain goods, as specified in notification issued.

The E-Way Bill can be abandoned electronically from the GST portal within 24 hours of its generation. Such E-Way Bill cannot be abandoned once it has been authenticated by an officer during transit.

Can the recipient of goods obtain details of the E-Way Bill?

Yes, the details of the E-Way Bill will be made available only to the registered recipient of goods for communication of acceptance or rejection of the load covered by the E-Way Bill within 72 hours of the details made available to the recipient.

Further if the recipient of goods, fails to communicate his/her acceptance or rejection within 72 hours, it will be counted that the recipient has accepted it.

Conclusion

With E-Way Bill under Goods and Service Tax, all the prevailing state-wise documentation involved for movement of goods will be terminated. Another big comfort of E-Way Billing will be the dismissal of multiple check-posts across national highways and state borders, resulting in movement of goods easily.

The author has been actively blogging for over six years on a myriad number of topics including accounts, finance, financial technology, insurance, taxation, corporate taxations, and business & economy among others. A fastidious researcher and an avid reader. The author makes it a point to keep pace with the current affairs in new age practices in this age of social media. He presently writes for Ashok Maheshwary & Associates and has a proven expertise in Finance & Accounting.


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Category GST, Other Articles by - Shekhar Gupta 



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