The e-way bill will apply over interstate transportation of goods whose value more than Rs. 50,000 through railways, road, airways and vessels.
NEW DELHI: Nationwide electronic or e-way bill rolled out form Today for inter-state movement of goods, with GSTN officials saying that the platform is working smoothly.
Know What is E-Way Bill System And When it Applicable
E-Way Bill is an electronically generated document which can be generated on the GSTN (common portal). A ‘movement’ of goods of more than Rs 50,000 from one place to another.
When an E-WayBill is generated on the common E-way Bill portal, a unique EBN is allocated and is available to the supplier the recipient and the transporter over the common portal.
The e-way bill system to be rolled out from April 1, the government confirmed on 31st of March 2018. For intra-state movement of goods, the new system would be launched in 15 Day’s, Finance Secretary Hasmukh Adhia announced on Wednesday. According to an IANS report, the e-way bill will apply to inter-state transportation of goods worth over Rs. 50,000 through road, railways, airways and vessels. For the consignments whose value less then RS. 50,000, no e-way bill is mandated.
Karnataka is the first state where the e-way bill system rolled out also for moving of goods within the state. The state has been using the e-way bill platform since September last year for intra-state movement of goods.
The e-way Bill would help to increase tax collections by down on trade that currently happens on cash basis, this bill provision of the GST was first introduced on February 1, 2018.
But, its implementation was put on hold after the new system developed glitches in generating permits.
After that Government not looking any glitches in the system so asks the GSTN to take their time to Bugless new system.