Exemption limit on e-way bill raised to Rs 1 lakh, businessmen happy

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In a major relief to traders, Punjab finance minister Manpreet Badal has agreed to double the exemption limit on e-way bill from existing Rs 50,000 to Rs 1 lakh for intrastate movement of goods. Badal revealed this during a meeting with businessmen from Ludhiana at Chandigarh. Confirming the development, Badal told TOI, “We have enhanced the exemption limit of intrastate e-way bill from Rs 50,000 to Rs 1,00,000 and also given full exemption to persons doing jobs within the state. These modifications have been carried out on the pattern of Maharashtra and other states which have eased the e-way bill norms.” There are 3 lakh GST dealers in the state who are expected to benefit from the move. “The process to issue a notification in this regard has already been initiated and it is very likely that newchanges will come into effect by Monday,” he added.

Meanwhile, businessmen are upbeat and hopeful that the move once implemented would help them bring their businesses back on track. Kulwant Singh, president of Chamber of Industrial and Trading Entrepreneurs (CITE), who was part of the delegation, said besides issuing orders for necessary modification in the format of e-way bill, the FM also agreed to release Rs 50 crore within a week to dispose of VAT refunds, the move that will help the ailing industry in a big way.

“Badal also said that he will soon issue instructions to the state taxation department for not opening the old assessment cases under VAT which again is a big relief for us,” he said. Local MLA Surinder Dawar, who along with other businessmen met Badal on Wednesday evening, said, “Captain Amarinder Singh government is serious about needs of every section. This also shows how promptly our government acts on the grievances of businessmen.” Dawar, who is also an industrialist, said ever since e-way bill was introduced, a lot of issues cropped up which made it difficult to do business, especially for the small businessmen. 

“During the recent meetings, the finance minister was apprised of the major problems regarding the existing eway bill.  Last evening, he said that he has initiated the process of increasing the exemption limit on e-way bill within the state from Rs 50,000 to Rs 1 lakh,” said Dawar. Under the existing e-way bill system, businessmen have to upload details of every sale bill involving goods valued above Rs 50,000 whether the goods are meant for movement within the city, state or country. Without uploading the bill before transportation, the seller is liable to pay 200% penalty on GST value of the invoice. Ever since its implementation, the businessmen had been demanding enhancement of the exemption limit within the city and within state transactions.

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