An e-way bill is an electronic document required in India for the movement of goods valued over Rs. 50,000 under the Goods and Services Tax (GST) regime. It must be carried by the person in charge of the conveyance transporting the goods, whether by road, air, or sea
Key Features of the E-Way Bill
- Purpose: It serves as proof that the goods being transported comply with GST regulations and helps authorities track the movement of goods to reduce tax evasion
- When Required: It is mandatory for any consignment of goods exceeding Rs. 50,000, whether for supply, return, or inward supply from an unregistered person
- Who Generates It: The e-way bill can be generated by the supplier, recipient, or transporter involved in the movement of goods
- Generation Portal: It is generated electronically on the GST Network (GSTN) portal dedicated to e-way bills. The user must be registered on the GST portal to generate it
Components of the E-Way Bill
- Part A: Contains details such as GSTIN of the supplier and recipient, invoice or challan number and date, value of goods, HSN code, origin and destination of goods, and reason for transportation.
- Part B: Contains transporter details, including vehicle number and mode of transport
Process of Generation
- Log in to the GST portal with valid credentials.
- Select the "Generate New" option under the e-way bill tab.
- Enter details like GSTIN of supplier and recipient, invoice number, date, value of goods, transporter details, and mode of transport.
- Submit the form to generate the e-way bill.
- A unique E-Way Bill Number (EBN) is generated, which must be carried during transportation
Benefits
- Streamlines and digitizes the movement of goods across India.
- Enhances traceability and control for tax authorities and businesses.
- Reduces tax evasion and ensures compliance with GST laws
In summary, the e-way bill is an electronic waybill generated on the GST portal that documents and authorizes the movement of goods worth more than Rs. 50,000 within India, ensuring compliance with GST regulations and facilitating smoother logistics
