E-way GST bill generation picks up pace ahead of festive season

Categories: GST Recent News

Daily e-way bill generation for goods transportation under the Goods and Services Tax (GST) system came in at 22.71 lakh for the week ended September 19, up 10.4% over the daily average for the previous week, reflecting a pick-up in economic activity ahead of the festival season.

The daily average for the first 19 days of September was 21.24 lakh, almost at par with the daily average (21.26 lakh) for August.

Going by the recent weekly trends, the daily average is expected to rise further for September when data for the full month is captured. Between September 1 and 19, as many as 4.04 crore e-way bills were generated.

Thanks to the easing of lockdowns, e-way bill generation by businesses rose to 6.59 crore in August from 6.42 crore in July and 5.5 crore in June.

The gross GST collections came in at Rs 1.12 lakh crore in August (largely July transactions), up 30% on the year but down 3.8% on the month, signalling an ongoing economic recovery but suggesting that activities aren’t picking up evenly across sectors. GST collections, after posting above the Rs 1-lakh-crore mark for eight months in a row, had dropped below Rs 1 lakh crore in June 2021 due to the second wave of Covid-19.

Source from: https://www.financialexpress.com/economy/e-way-gst-bill-generation-picks-up-pace-ahead-of-festive-season/2334228/