Taxpayers having an annual turnover of over Rs 5 crore in 2019-20 will not be able to move goods worth more than Rs 50,000 from Thursday if at least two of their summary input-output returns are pending.
The Central Board of Indirect Taxes and Customs (CBIC) said these taxpayers will not be able to generate Part A of the e-way Bill.
E-way bill has to be generated if a GST registered person or entity wants to move goods over Rs 50,000.
Part A of the bill contains information on recipient's GST identification number, place of delivery, invoice or challan number and date, goods' value, transport document number and reasons for transportation.
Abhishek Jain, partner at EY, said,"Blocking of e-way bill generation was one of the many anti-evasion measures approved by the GST Council last year. With it now being practically executed, this should definitely help check tax evasion and boost timely compliances."
For genuine cases of non-filing, including technical glitches, the law provides for an alternate avenue of obtaining an exception approval from the Commissioner.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.