E-way bill generation i.e. associated with the payment of GST and is a key high frequency indicator representing economic activity might have fallen to a 5-month low owing to localized restrictions at most of the places amid Covid 19 second wave.
For the April month, e-way bill generation might decline to 55-58 million, which is the lowest since atleast November 2020. In comparison to March's highest figure it is a 17% decline. This E-way bill figure will show up in the May GST numbers, which as per experts could see a fall by 20%.
As per the GSTN portal, a total of 48.9 million e-way bills were generated as of April 25. This averages out at 1.95 million e-way bills generated per month and Rs. 5.86 crore in value terms compared to last month's e-way bills at 2.29 million.
For the April month, GST collection number largely recorded transactions or supplies in March. E-ways bills are generated for supplying goods over Rs. 50000 both intra-state and inter-state. E-way bill is an indicator of trends in demand and supply in the economy, which reflects in macro indicators with a lag.