E-Way Bill is an electronically generated document which is required to be generated for the movement of goods of more Rs. 50,000 from one place to another.
This document is required to be generated online for transportation of goods irrespective of whether such transportation is inter-state or intra-state. Under the GST Regime, generation of the e-way bill is compulsory from 1st Feb 2018.
Under GST, transporters will need to carry an electronic waybill or E Way Bill when moving goods from one place to another. Since it is a new rule introduced under GST, it is necessary for all consignors/consignees/transporters to be aware of the required compliance.
E-waybill:- Electronic waybill for movement of goods, which has to be generated on the GST( Common Portal) for movement of goods worth exceeding rupees 50,000, E-way bill is mandatory
From 1st February 2018 , inter-state movement of goods exceeding worth rupees 50,000, E-waybill is mandatory.
From 1st June 2018, intra-state movement of goods exceeding worth rupees 50,000, E-waybill is mandatory.
Penalty under E-way bill rules:-
A taxable person who transports any taxable goods without E-way bill shall be liable to a penalty of rupees 10,000 or tax sought to be evaded (wherever applicable) whichever is greater.
The entire contents of this article are solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation by the Author. Compliance Calendar LLP and the Author of this Article do not constitute any sort of professional advice or a formal recommendation. The author has undertaken utmost care to disseminate the true and correct view and doesn’t accept liability for any errors or omissions. You are kindly requested to verify and confirm the updates from the genuine sources before acting on any of the information’s provided hereinabove. Compliance Calendar LLP shall not be responsible for any loss or damage in any circumstances whatsoever.