E-way bill generation hits record high in September, shows GSTN data

The generation of e-way bills — electronic permits required for transporting goods worth over ₹50,000 within or across states — touched a record 132 million in September, marking the highest monthly tally on record. Year-on-year (Y-o-Y), e-way bill generation rose 21.1 per cent, though it grew only 2.2 per cent sequentially from August, according to Goods and Services Tax Network (GSTN) data. In July, the e-way bills were at 131.91 million, the second highest.

 

According to experts, the surge in e-way bill volumes reflects a pickup in goods movement ahead of the festive season as businesses stepped up production and inventory dispatches to meet anticipated demand. The record tally also underscores continued formalisation and improved compliance under the goods and services tax (GST) regime.

 

Supporting this momentum, the World Bank recently raised India’s 2025-26 (FY26) growth forecast to 6.5 per cent from earlier projection of 6.3 per cent, citing resilient domestic demand, a strong rural recovery, and recent GST reforms.

 

According to M S Mani, partner with Deloitte, ahead of the rollout of GST 2.0 on September 22, businesses frontloaded the dispatch of goods whose tax rates were unchanged, such as refrigerators, mixers, grinders, and other fast-moving consumer goods (FMCG) products to avoid logical bottlenecks during the transition. "The movement of these goods accounted for much of the activity in the first three weeks of September. Following the implementation of GST 2.0, and the accompanying rate rationalisation, movement of goods has broadened across categories, reflecting both renewed market confidence and pre-festive demand," Mani said.

 

The record generation of e-way bills signifies an encouraging trend of enhanced compliance and rising economic activity, according to Abhishek A Rastogi, founder of Rastogi Chambers. “The increase in e-way bill volumes not only reflects a surge in the movement of goods driven by festive season demand, but also indicates the growing maturity and acceptance of the digital compliance ecosystem under GST," Rastogi said.

 

He further added that this upward trend may also be a consequential effect of the recent rate rationalisation measures, which have boosted market sentiment and encouraged legitimate trade through formal channels.

 

Shivam Mehta, partner at Lakshmikumaran & Sridharan, said that the post-rate-cut uptick in e-way bill generation indicates that GST rationalisation is beginning to stimulate demand and strengthen compliance, reflecting the broader intent of the reform. 

On growth path

• E-way bills touched record 132 million in September
• Surge reflects a pickup in goods movement ahead of the festival season
• Experts say businesses frontloaded dispatch of goods whose tax rates were unchanged
• Analysts also say this signifies enhanced compliance and rising economic activity