{"id":18221,"date":"2018-04-04T17:02:57","date_gmt":"2018-04-04T11:32:57","guid":{"rendered":"http:\/\/blog.forumias.com\/?p=18221"},"modified":"2018-04-06T17:14:38","modified_gmt":"2018-04-06T11:44:38","slug":"gst-e-way-bill-system-all-you-need-to-know","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/gst-e-way-bill-system-all-you-need-to-know\/","title":{"rendered":"E-way bill system: all you need to know"},"content":{"rendered":"<p><strong><u>Context: <\/u><\/strong><\/p>\n<ul>\n<li>The GST e-way bill system has been recently rolled out all over India as part of anti-tax evasion measures under the new tax regime.<\/li>\n<\/ul>\n<p><strong><u>Background: <\/u><\/strong><\/p>\n<p><strong>1<sup>st<\/sup> April, 2018:<\/strong><\/p>\n<ul>\n<li>The group of minister (GoM) formed to oversee the implementation of the Good and Services Tax (GST) implemented the e-way bill for inter-state movement of goods all over India.<\/li>\n<\/ul>\n<p><strong>\u00a0E-way bill: <\/strong><\/p>\n<ul>\n<li>An <strong>electronic documentation.<\/strong><\/li>\n<li>Document contains details about <strong>movement of goods. <\/strong><\/li>\n<li>Can be generated from the <strong>Good and Services Tax Network (GSTN). <\/strong><\/li>\n<li><strong>25-50 lakh e-way bills<\/strong> to be generated every day, and that may even go up to <strong>75 lakh per day. <\/strong><\/li>\n<\/ul>\n<p><strong><u>Key notes about E-way bill:<\/u><\/strong><\/p>\n<ul>\n<li>Mandatory from <strong>1<sup>st<\/sup> April, 2018<\/strong> for all <strong>inter-state transport of good.<\/strong><\/li>\n<li>Consignment should exceed <strong>Rs50, 000 in value.<\/strong><\/li>\n<li>Compulsory for the <strong>moving goods<\/strong> within a state in a <strong>phased manner from 15<sup>th<\/sup> April, 2018.<\/strong><\/li>\n<li>Its <strong>validity varies<\/strong> depending on the distance that the goods have to travel.<\/li>\n<li>Some goods that are <strong>out of the e-way bill\u2019s ambit<\/strong> include <strong>perishable items<\/strong> such as meat, milk and milk products and fruits and vegetables.<\/li>\n<li>Other items that <strong>don\u2019t need an e-way bill<\/strong> are gold and silver jewellery, cooking gas cylinders, raw silk, wool and handlooms.<\/li>\n<li>Goods will be inspected <strong>only once during the journey<\/strong> except in cases where specific information on <strong>tax evasion <\/strong>is received.<\/li>\n<\/ul>\n<p><strong><u>Significance of e-way bill:<\/u><\/strong><\/p>\n<ul>\n<li>Key anti-tax evasion measure,<\/li>\n<li>Crucial part of the GST architecture,<\/li>\n<li>Provide a boost to GST revenues,<\/li>\n<li>Dissuade tax evaders from underreporting transactions, and<\/li>\n<li>Check instances where the entire transaction is not recorded due to connivance between the seller and buyer.<\/li>\n<\/ul>\n<p><strong><u>Concerns rose over e-way bill:<\/u><\/strong><\/p>\n<ul>\n<li>May cause a disruption to trade,<\/li>\n<li>Technology system may not be prepared to handle the huge e-way bill volume,<\/li>\n<li>Long delays in generation of GST e-way bills,<\/li>\n<li>Trade may come to a standstill,<\/li>\n<li>Potential scope for harassment by tax authorities,<\/li>\n<li>Inadequate knowledge about the process of e-way bill among vehicle drivers, and<\/li>\n<li>Taxmen have powers to stop trucks and check e-way bills which may lead to rent-seeking.<\/li>\n<\/ul>\n<p><strong>Way ahead: <\/strong><\/p>\n<ul>\n<li>Anti-evasion officers need to be deployed,<\/li>\n<li>Limit the frequency of inspections for goods moving across States, and<\/li>\n<li>Educate the general mass with e-way bill and its underpinnings.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Context: The GST e-way bill system has been recently rolled out all over India as part of anti-tax evasion measures under the new tax regime. Background: 1st April, 2018: The group of minister (GoM) formed to oversee the implementation of the Good and Services Tax (GST) implemented the e-way bill for inter-state movement of goods&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/gst-e-way-bill-system-all-you-need-to-know\/\">Continue reading <span class=\"screen-reader-text\">E-way bill system: all you need to know<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":18222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-18221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-2","entry"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2018\/04\/E-way-Bill-23-2-18.jpg?fit=1000%2C561&ssl=1","views":{"total":0,"cached_at":"","cached_date":1700535802},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/18221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=18221"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/18221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media\/18222"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=18221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=18221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=18221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}