Sequentially, the number of e-way bills dipped in February to 111.6 million, after rising for three consecutive months to touch a record 118.1 million in January
In December last year, e-way bill had hit the second highest level at 112 million, after it peaked earlier at 117.2 million in October due to the festive season
E-way bills are mandatory for the movement of consignments worth more than Rs 50,000 and are, therefore, an early indicator of demand and supply trends in the economy
Mandatory linking of e-invoice with e-way bill, applicable from March 1 for certain types of transactions, may cause disruption in operation and has created confusion among tax planners who are seeking clarification from the authorities, experts said on Sunday. The move was initiated after the mismatch in e-way bills and e-invoice statements was noticed in several cases, they said. "Blocking the generation of e-way bill without e-invoice/IRN details for B2B (business to business) and B2E transactions for e-invoice enabled taxpayers," said an advisory issued by the National Informatics Centre (NIC), which manages the indirect tax portal. Rajarshi Dasgupta, Head Tax at Aquilaw told PTI that the advisory on linking e-invoice with e-way bill will cause "technical difficulty in the hands of exporters having a turnover over Rs 5 crore as there is no time limit relaxation for the generation of e-invoice". "What would happen if there are multiple containers for a single consignment? How wi
Businesses with turnover above Rs 5 crore will not be able to generate e-way bill without including e-invoice details for all B2B transaction from March 1. Under the goods and services tax regime, e-way bills are required for inter-state transportation of goods valued over Rs 50,000. The National Informatics Centre (NIC) said on analysis it was found that some of the taxpayers, who are eligible for e-invoicing, are generating e-way bills without linking with e-invoice for B2B (business to business) and B2E (business to exports) transactions. In some of these cases, the invoice details entered separately under e-way bill and e-invoice are not matching with respect to the certain parameters. This is leading in mismatch in the e-way bill and e-invoice statements. " to avoid such situations, e-way bill generation will not be allowed without e-invoice details from 1st March 2024. This is applicable for e-invoice enabled tax payers and for the transactions related to supplies under B2B a
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E-way bill generation rose by 22.6 per cent in the week ended June 27 at 14.6 million compared to 11.9 million in the previous week
Likely to decline to 55-58 million in April
The government is working on a system to soon provide report to GST officers on a real-time basis for those vehicles which are moving without e-way bills
Rule 86B under Central GST Act limits use of input tax credit for discharging liability, changes GST registration rules as well
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
Finance Secretary said more than 57.4 million e-way bills have been generated in September and these are affirmative signs of economic growth
Pandey said that almost 2.62 million e-way bills were generated on September 30, which was the highest ever count so far in a single day