E-way bill generation touches nearly 90% of pre-Covid period

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E-way bill, in value terms, has reached nearly 90 percent of pre-Covid period.

According to latest data, total number of e-way bills reached over 4.87 crore at the end of August while it was over 5.63 crore in February, indicating that 86 percent of pre-Covid level has been achieved. In terms of value, total assessable value of all such bill were ₹13.86 lakh crore, while this amount was over ₹15.39 lakh crore in February.

More numbers of e-way bill means higher movement of goods within the State and also between the States. This also shows increase in economic activities.

E-way bill is just like challan. It shows goods being taken from one place to other has been tax compliant. It is required to be generated by a registered GST taxpayer for the movement of goods if the value of the consignment is more than ₹50,000 for interState movement. For intraState movement, limits vary from State to State.

New facility

A new facility for generation of monthly statement has been made available on the e-way bill portal run by National Informatics Centre (NIC). Till, recently, the taxpayers or transporters could download e-way bills generated by them for a limited period of 5-days interval. This was causing hardship as the taxpayers had to download the e-way bills multiple times in a month. Suggestions were received from taxpayers to increase the number of days for which e-way bills could be downloaded.

Keeping in view the demand of taxpayers, the system has been enhanced to enable the download of e-way bills for a longer period, that is, for one month.

Read More at: https://www.pressreader.com/india/the-hindu-business-line/20200919/281651077533636