Our courses offer a good compromise between the continuous assessment favoured by some universities and the emphasis placed on final exams by others.
All about E-Way Bill
E-way bill or Electronic-way bill is a document introduced under the GST regime that needs to be generated before transporting or shipping goods worth more than INR 50,000 within state or inter-state. The physical copy of e-way bill must be present with the transporter or the person in charge of the conveyance and should include information such as goods, recipient, consignor and transporter. The e-way bill was rolled out nationwide on 1st April 2018.
What is GST E-Way Bill?
Under GST, the process and procedural aspects for the movement of goods are prescribed in the e-way bill rules. E-way bill stands for Electronic Way Bill. It is usually a unique bill number generated for the specific consignment involving the movement of goods. However, it is to be noted that the e-way bill implementation was deferred when GST came into being on the 1st of July, in order to give more time to the government, businesses and transporters to prepare for its full and final implementation. States like Gujarat continued to have Form 402 in GST, and clear rules were laid down as to how to help businesses fill a GST Form 402 online till the implementation of the GST e-way bill is complete.
When is the E-Way Bill applicable?
It is applicable for any consignment value exceeding INR 50,000. Even in case of inward supply of goods from unregistered person, E-Way Bill is applicable.
What is the validity of E-Way Bill?
The validity period will be counted from the time of generation of the E-Way Bill. The validity period of the E-Way Bill may be extended by the commissioner for certain categories of goods, as specified in the notification issued in this regard.
Who should generate the E-Way Bill?
Documents, Inspection and Verification for E-Way Bill
The transporter or the person in charge of a conveyance should carry the following documents:
At the place of verification, the officer may intercept any vehicle to verify the E-Way Bill or the E-Way Bill number in physical form for all interstate and intrastate movement of goods. On the ground of suspicion of tax evasion, a physical verification of the vehicle can be carried out by an officer after obtaining necessary approval from the commissioner or an officer authorized on his behalf. If the physical verification of vehicle is done at one place –within the state or in any other state, no further physical verification will be carried out again during the transit, unless specific information of tax evasion is made available subsequently.
After every inspection, the officer needs to record the details of the inspection of goods in Part A of Form GST EWB 03 within 24 hrs of inspection and the final report must be recorded in Part B of Form GST EWB 03 within 3 days of inspection. If the vehicle is detained for more than 30 minutes, the transporter has an option to complain by uploading the details in Form GST EWB 04.
GST E-Way Bill Format
The E-Way Bill format in GST comprises of 2 parts – Part A and Part B.
The Part A of E-Way Bill in Form EWB 01 aims to collect the details of consignment, usually the invoice details. Accordingly, the following details need to be captured.
GSTIN of Recipient: Mention the GSTIN number of the recipient.
Place of Delivery: Here you must mention the Pin Code of the place where goods are delivered.
In Part B of Form EWB 01, the vehicle number in which goods are transported needs to be mentioned. This will be filed by the transporter in the common portal.