All you need to know about GST E- waybill
It has now been aired far and wide by the Central Government of India that the E-waybill mechanism will be made mandatory with effect from 1st February 2018 for the interstate consignment of goods throughout India. The GST Council in its 24th meeting that was held via Video conferencing on 16th December 2017, had proposed to implement this electronic mechanism throughout the nation as to ensure uniformity and integrity of revenue system and seamless shipment of goods across the states.
The government has now decided make it compulsory to issue E-waybill, for interstate movement of goods of the value exceeding â‚¹50,000/- in accordance with the powers conferred to it under Section 164 of the Goods and Services Tax Act, 2017. In this regard, the government has initiated the mechanism as a pilot project in Uttarakhand from today. Recently, in the states like Kerala, Karnataka, Madhya Pradesh and Rajasthan where the project has already been launched, the Goods and Services Tax Network has boisterously made it that the system is tremendously progressing, with over 1.4 lakh e-waybills generated every day.
As the nation is heading towards a fast track legal mechanism for inter and intrastate consignment of goods, the fundamentals of this novel concept are worth knowing for every potential as well as a prominent market player.
Here are the appropriate answers to some obvious queries that must be brewing up in every entrepreneurial mind regarding the E-waybill:
Whose responsibility is it to issue the E-waybill for transportation of goods?
The consignor, consignee or the transporter are responsible to generate the E-waybill for the transportation of consignment. Broadly, any registered party shall generate the E-Waybill in case any of the two involved parties are unregistered.
What type of supplies are to be covered under E-Waybill?
Generally, all types of supplies for commercial use, are to be included under the purview of E-Waybill. These also include rejected goods, return inwards and outwards (sales & purchase return), goods sent for repairs and stocks work-in-progress.
First of all, a delivery challan will be issued, that will show the approximate value of the goods, and the E-waybill will be generated on that basis.
What are the criteria for the validity of the E-waybill?
The E-Waybill once generated shall be effective for a limited period depending upon the distance to be covered: -
For how much value of goods is the E-waybill effective?
If the total value of the consignment delivered in a vehicle exceeds â‚¹50,000/- the involved parties are bound to issue the E-Waybill.
What is the structure of the E-waybill?
E-Waybill is tabulated in two parts A and B. Part A includes details of the consignee or receiver, as well as details and Value of the Goods. In Part B, details of the consigner or sender are included, i.e. name, his vehicle number, and GR number. If the goods are dispatched manually or by rickshaw over the distance less than 10Km, part B will not be compulsory to be filled.
How are different consignments tracked in E-Waybill system?
The consignments are issued unique Harmonized System of Nomenclature (HSN) Code that will be also mentioned in the E-waybill.
What is Consolidated E-waybill?
A consolidated E-waybill is generated when the transporter is carrying multiple consignments in a single-vehicle. Consolidated E-Way is an economic way that allows the transporter to carry a single document instead of separate bills for each consignment in a conveyance.
Is there any need for a printout of E-waybill along with the invoice?
There is no need to show the printout of E-waybill along with the Invoice of Goods. Instead, the E-waybill number is to be shown on the invoice.
What is the penalty of non-filing of E-waybill?
The penalty of non-filing of E-waybill is 200% of the total GST value of the invoice.
Note: Once E-waybill is sent for final submission there will be no editing in it.
To know more about the concept of E-waybill system, you must refer to the blog section.
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