GST E-Way Bill to be Implemented from 1 April: Intro
GST E-Way Bill to be Implemented from 1 April: Under the Goods and Services Tax (GST) system, the use of the E-Way-bill is necessary for transportation of goods from one state to another for transporters. According to the sources it may be implemented from April 1. Under the GST Council, a group of finance ministers of the states formed this recommendation on Saturday.
Bihar Deputy Chief Minister Sushil Kumar Modi said that this system is mandatory for the interstate transport of goods, Whose worth is more than Rs. 50,000. Last Year on 1st July, GST was introduced in our country. At that time, the introduction of the e-way bill was postponed. It was postponed then, due to lack of information in technology network. This year, Again it starts on 1st February, but due to system collapse, its implementation was again postponed. Sushil Modi said that, on the recommendations of the ministerial group, the GST Council meeting will be considered. The next meeting of the GST Council will be on March 10.
How much Earning does E-way bill increment for the Government?
It is believed that, because of the implementation of the E-Way-bill, tax evasion will prevail. Furthermore, there will be an increase of 15 to 20 percent in revenue earning.
What is E-Way-Bill? How does it Work?
The e-way bill is an electronic bill to be taken for the transportation of goods. You can generate it from GSTN (General Portal). Under this new arrangement, the transportation of goods worth more than Rs. 50,000 will not be done without E-Way-bill.
User can Generate E-Way-Bill from SMS Also
If you want, then you can withdraw the E-Way-Bill via SMS also, as well as cancel it. Whenever an E-Way-Bill is generated, then the concerned person is assigned a specific e-bill number. This number is made available to all suppliers, recipients and transporter also.