E-way bill generation likely to exceed 5 crore in July

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The e-way bill generation is set to cross five crore mark in July, but it is still lower than the all-time high of 7 crore plus registered in March this year. A higher number is indicator of better GST collection.

According to latest data from GSTN (the IT back bone of GST system), e-way bill generation touched around 4.96 crore as on July 25, 2021 over 1.93 crore for inter-State and over 3.02 for intra-State. E-way bill 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 inter-State movement. For intra-State movement, the limits vary from State to State.

Total e-way bills generated stood at 5.47 crore in June 2021, which shows  26 percent YoY (year-on-year growth over June 2020, and 10 percent growth compared to June 2019). This augurs well for GST collections in July for which data will be released on August 1, 2021. Data of e-way bill for July will show its impact in GST collection in August, which will be made public on September 1, 2021.

As e-way bill data for March was record 7.12 crore, collection in April clocked all time high of ₹1.40 – lakh crore. However, due to localised lockdown, e-way bill generation data dropped to around 4 crore and it impacted collection in June when mop-up was around ₹93,000 crore. On the basis of this trend, expectation is collection will regain ₹1-lakh crore or more in July.

Source from: https://www.thehindubusinessline.com/economy/e-way-bill-generation-likely-to-exceed-5-crore-again-in-july/article35603694.ece

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