What is the significance of EWAY bill?
E-way bill is a mechanism to ensure that goods being transported comply with the GST Law and is an effective tool to track movement of goods and check tax evasion.
What happens if we don’t generate e-way bill?
Moving goods without the cover of an invoice and Eway bill constitutes an offence and attracts a penalty of Rs. 10,000 or the tax sought to be evaded (whichever is greater). Hence, the bare minimum penalty that is levied for not complying the rules is Rs. 10,000.
Can we reject e-way bill?
How to Reject EWBs? A taxpayer can use this option to reject the e-way bills generated by other parties (as recipients/suppliers) on the former’s GSTIN. For example, where the consignment did not reach the destination at all as it was cancelled on the way, the recipient may reject the e-way bill.
Who is liable to generate EWAY bill?
Ans. The registered person, being the supplier or recipient, is required to generate E-way Bill by furnishing the information in part B of the E-Way bill viz transport document Download source : www.gstindia.com 3 number (Goods Receipt Number or Railway Receipt Number or Airway Bill Number or Bill of Lading Number).
Can we send material without e-way bill?
50,000 are transported from one place to another, an e-way bill is required. In case goods are transported without an e-way bill, the goods can be seized by a GST officer and penalty could be levied.
How can I cancel e-way bill after one month?
An e-Way Bill can be cancelled by the recipient of the consignment at the request of the consignor after 24 hours. And once the time period of 72 hours terminates then the e-Way Bill cannot be cancelled as there is no procedure to cancel an e-Way Bill after 72 hours.
How do I cancel my e-way bill?
The E-Way Bill once generated cannot be deleted. However, it can be cancelled by the person generating the same within 24 hours of its generation. Further, if a particular E-way Bill has been verified by a proper officer, then such an E-Way Bill cannot be cancelled.
When should e-way bill be issued?
Registered Person – Eway bill must be generated when there is a movement of goods of more than Rs 50,000 in value to or from a registered person. A Registered person or the transporter may choose to generate and carry eway bill even if the value of goods is less than Rs 50,000.
Can transporter generate e-way bill?
The consignor or consignee, as a registered person or a transporter of the goods can generate the e-way bill. The unregistered transporter can enroll on the common portal and generate the e-way bill for movement of goods for his clients.
What is E-Way Bill and how to generate it?
E-Way Bill stands for ‘Electronic Way Bill’ and needs to be generated mandatorily using the Govt. Portal while goods of value more than ₹ 50, 000 is transported from one place to another.
What happens if the validity of the E-Way Bill expires?
If validity of the e-way bill expires, the goods are not supposed to be moved. However, under circumstance of ‘exceptional nature’, the generator of the e-way bill can generate another e-way bill, by entering the e-way bill number and part-B.
What are the benefits of using Wayway bills?
Way bills are useful because they can help to track the movement of goods around the country. For example, if a truck carrying eatables moves on the Mumbai to Hyderabad highway, there will be various check-posts where responsible officers will check what that truck is carrying and why.
When will E-waybill be mandatory?
E-Waybill will be mandatory for inter- and intra-state movement of goods with a minimum value of ₹50, 000 and for a minimum distance of 10Km. As of now, the E-waybill will be implemented from 1st April for inter-state movement of goods.