GST: Experts Raise Compliance Comcerns After E-way Bill

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The government has notified the e-way bill and excluded some of the mass consumption items from its ambit including vegetables, fruits, food grains, meat, curd, bread, books and jewellery. The notification shall guide on the transport of goods under the new GST regime.

 GST: Experts Raise Compliance Comcerns After E-way Bill

However, experts opine that e-way bill will add to industry's compliance. Also the idea of GST officers or commissioners intercepting vehicles is not favoured by them.

An e-way bill is a sort of permit required in electronic format for the transportation of goods valued over Rs. 50000 within the country. The bill would encompass all information pertaining to the goods being transported. Generation of the bill can be done by either of the three parties; registered supplier, recipient or transporter. The SMS facility can also be used for the generation and cancellation of the e-way bill.

For distance of upto 100 km, the generated e-way bill shall be valid for 1 day while for distance over 1000km, the bill shall be valid for 15 days time.

Know about the detailed notification of E-way bill, here.

The prime reason for the introduction of e-way bill is to track movement of goods as well as to check and inspect them in case of suspicion of tax evasion.

Read more about: itr, aadhaar, itr filing, audit report
Story first published: Saturday, September 2, 2017, 14:55 [IST]
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