GST Council today headed by Finance Minister Arun Jaitley is reported to arrive at final rules pertaining to GST e-way or electronic-way billing system. As per an Economic Times report this billing system was reported to be implemented from October after the centralized platform for it is fully made functional.
The e-way bill rule applies to all of the registered individuals whose job involves movement of goods as consignment valuing over Rs. 50,000 as they before the dispatch of the consignment need to provide in all the relevant details in Form GST INS-01.
The e-way bill can be generated on the GSTN portal and is mandatory for movement of goods valuing over Rs. 50000 as without it the movement can't be effected. Also, SMS facility can be used to generate or cancel the e-way bill. Upon generation of the specific and unique EBN or e-way bill number, the same is made available to supplier, recipients and transporter.
In respect of the movement of good, so forth 5 rules apply:
1. All relevant information to be provided before hand i.e before the dispatch or movement of goods together with the generation of e-way bill.
2. Person responsible for carrying the goods needs to carry the documents as well as devices
3. Verification of documents and the goods in transit
4. Inspection of goods
5. Facility for loading information with regard to vehicle detention if the case may be.