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The 24th GST Council meeting which took place on 16th December 2017 through video conference under the Chairmanship of the Union Minister of Finance and Corporate Affairs Mr Arun Jaitley. It discussed the implementation of the E-way Bill system in the country. However, up until the time, the states were authorized to continue with their own separate E-way Bill systems.
Under Goods and Services Tax (GST) Rules, ferrying goods worth more than Rs 50, 000 within or outside the state will require an Electronic –way or E-way bill by prior online registration of the consignment.
To generate the E-way bill the supplier and the transporter will have to upload details on the GST portal after which the E-way bill will be generated having a unique code as E-way Bill Number (EBN) which will be made available to the supplier, the transporter and the recipient at the common portal.
Finance Minister said that the Council has prepared a schedule with regard to the E-way bill to check the evasion. This will enable to enhance the collection. The GST Council has however stated earlier in October 2017 that E-way bill would be introduced in a staggered manner from January 1 and subsequently from April 1 nationwide. It will be beneficial for the taxpayers registered under GST to be prepared for the same. This is to make sure that their business doesn’t suffer after full implementation of E-way bill provisions.
For GST Registration or GST Advisory, visit our official website Enterslice.
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