Context:
The GST Council meeting recently gave sanction to issue the order making e-way bill mandatory for intra-state transportation of gold, gold jewellery and precious stones.
Relevance:
GS III: Indian Economy
Dimensions of the Article:
- About E-Way Bill
- Who Should Generate an E-Way Bill?
About E-Way Bill:
- An e-way bill, short for electronic way bill, is a permit required for inter-state and intra-state transportation of goods valued over Rs. 50,000.
- It contains details of the goods, consignor, recipient, and transporter.
- The e-way bill can be electronically generated through the Goods and Services Tax Network (GSTN) portal.
Key Features:
- Unique E-Way Bill Number: When an e-way bill is generated, it is assigned a unique E-Way Bill Number (EBN) which is accessible to the supplier, recipient, and transporter.
- Pre-Shipment Requirement: The e-way bill must be generated before the goods are shipped, and it should include all necessary details.
- Verification and Penalties: Although check-posts have been abolished under GST, authorities can intercept a consignment at any point to verify its e-way bill. Non-compliance may result in penalties of Rs. 10,000 or the tax sought to be evaded, whichever is greater.
Implementation and Exclusions:
- Mandatory Implementation: The GST e-way bill became mandatory from April 1, 2018, for all inter-state transportation of goods valued above Rs. 50,000.
- Phased Implementation: From April 15, 2018, it was gradually implemented for intra-state movement of goods within a state.
- Validity: The e-way bill’s validity depends on the distance the goods need to travel, typically one day for every 100 km.
- Excluded Goods: Perishable items, gold and silver jewelry, cooking gas cylinders, raw silk, wool, handlooms, and certain other items are excluded from the e-way bill requirement.
Who Should Generate an E-Way Bill?
- Registered Persons: Registered individuals must generate an e-way bill when there is a movement of goods valued over Rs. 50,000 to or from their premises. They may also generate the e-way bill for goods below this threshold.
- Unregistered Persons: Unregistered individuals are also required to generate e-way bills. If an unregistered person supplies goods to a registered person, the receiver assumes the responsibilities of compliance.
- Transporters: Transporters carrying goods via road, air, rail, etc., must generate an e-way bill if the supplier has not already done so.
-Source: Indian Express
