E-Way Bill Required for goods and transportation

What is E-way Bill?

E- Way Bill is an electronically generated bill with a unique number. E-way is allotted to a specific shipment from vendor whose shipment value is more than 50,000 INR. E- Way Bill needs to be generated before the shipment starts its journey from the source. This E-Way is made mandatory by the government & is now mandatory by 1st of April 2018. The E-Way bill now needs to be carried by the person in charge of the shipment for checking and verification purpose during the transportation.

Basic and mandatory fields in the E- Way Bill contains GSTIN of the recipient/ Place of delivery/ Invoice Number/ Quantity/ Invoice date/ Value of goods/ HSN number/Purpose of Transport/ Vehicle Number and many more.

Why E-way is Important?

There are certain points which are important for E-way bill they are as under:

  •  E- Way Bill for movement of the goods across the country
  • To prevent evasion of Tax
  • Hassle Free movement of goods
  • Tracking the movement of goods with e- way number.

There are certain benefits of E-way regulation they are as under:

  • The traders need not visit tax offices to collect and submit the Way Bill forms as used to be done in VAT regimes in some states..
  • Self-policing by traders. A trader while uploading gives the identification of the buying trader who will also account the transaction automatically.
  • Generation of GSTR-1 returns – GSTR-1 return of the supplier is auto prepared, hence he need not have to upload the same.
  •  Officials saved of monotonous work collecting and matching the manual way bill with the returns of the taxpayers.

Generate E way bill 

Every person who is involve in the shipment procedure.He should have their own GSTIN number to enroll in E- Way Bill system.

  •  By Using SMS
  • By Using Internet

 

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