The Ultimate Guide to EWay Bill: Everything You Need to Know

The E-Way Bill (Electronic Way Bill) is a document required for the transportation of goods worth more than a specified amount in India. It is a critical component of the Goods and Services Tax (GST) system, ensuring seamless movement of goods across states and preventing tax evasion. Here are the key points about the E-Way Bill:

1. Purpose: The primary objective is to track the movement of goods and ensure compliance with GST laws, minimizing tax evasion and promoting transparency in business transactions.
2. Threshold: E-Way Bill is mandatory for goods valued above INR 50,000. However, certain states may have different thresholds for intra-state transport.
3. Generation: It is generated electronically through the GST portal or via SMS. Both the supplier and the transporter can generate the E-Way Bill.
4. Validity: The validity of an E-Way Bill depends on the distance to be traveled by the goods. Typically, it is one day for every 100 kilometers or part thereof.
5. Details Required: Essential details include the consignment’s origin and destination, the transporter’s information, and the details of the goods being transported.
6. Compliance: Transporters must carry a physical or electronic copy of the E-Way Bill and present it to the authorities when required.
7. Penalties: Non-compliance can lead to penalties, including confiscation of goods and fines, ensuring adherence to the regulations.
8. Exemptions: Certain goods, like perishables and household items, may be exempt from requiring an E-Way Bill.

The E-Way Bill system enhances the efficiency and accountability of the supply chain, benefiting both businesses and the government.

Read More:- https://techmeaning.com/key-benefits-of-using-eway-bill-software-for-your-business/