What Is E-way bill

What is E-way Bill-

E-Way Bill is a type of electronic bill. In which complete information about the goods to be sent or received and the GST applicable on it

Based on the E-Way Bill, the GST officers will check the transported goods to ensure that proper GST is levied on the goods.

Before GST, there was a provision for road permits in sales tax or VAT law. Which continues in the form of an e-way bill after the implementation of GST.

When to issue E-Way Bill:-

Under GST, it is mandatory to issue an e-way bill for sending or receiving goods above Rs 50,000. There is no need to issue an e-way bill on goods less than 50,000. But the Supplier or Receiver can issue it as per their wish.

E-Way Bill is issued in the form of GST itself. Part-A of this form contains information about the goods. And Part B contains transport information.

Who will issue E-Way Bill:-

If the registered supplier or recipient is consigning goods in his transport vehicle. or receiver. Hence they have to issue the e-way bill before sending the goods by visiting the GST complex.up.nic.in portal.

1. The goods are sent in the conveyance of his supplier or his recipient.

The responsibility for the issuance of e-way bills in both the different scenarios is as follows

2. The goods are being sent by a third party or using transport.

3. The recipient can accept or reject the goods within 72 hours of the generation of the E-Way Bill.

If the goods are shipped using transport. Hence the supplier or recipient can issue an e-way bill before handing over the goods to the transporter. If the supplier or recipient has not issued the e-way bill. and the goods are handed over to the transportation. Then the e-way bill will be issued by transport and some information will be filled in by the supplier or receiver.

Benefits of e-way bill-

The government, tax administration, and business class will benefit from the implementation of the e-way bill system.

• The government will get more tax as more part of the business comes under the tax net. After the implementation of this system at the national level, the same rules will be applicable in every state. This will facilitate the movement of goods from one state to another. Along with this, there will be more transportation of goods with transparency and fairness. This will help in developing the business environment faster.

• It will be easier for the government to keep an eye on the tax system. The officers of the department will be able to check the goods being sent anywhere by transport. The tax officer will also have a machine. And you will be able to verify the information related to the e-way bill. The generation of the e-way bill even before the goods are dispatched will help the tax administration to check tax evasion.

• With an online e-way bill, merchants or transporters will not have to worry about its loss or destruction. With complete details available on GST Network, it can be viewed and displayed online anytime, anywhere. The scope for collusion and arbitrariness between the businessmen and employees of the tax department will also be curbed.

Conclusion:-

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