What is an E-Way Bill?

An E-Way Bill is an electronic document required for the movement of goods worth more than??50,000 within the country (India) under the GST regime. It helps track the movement of goods and ensures compliance with tax regulations, and is required for both inter-state and intra-state transportation.

The E-Way Bill contains details such as the name of the consignor and consignee. It also contains details of goods being transported, their value, tax paid, vehicle number, and the route of transportation. It can be generated on the?GST portal?or through other modes, like SMS, mobile application, or a software solution.

The E-Way Bill system aims to bring about a uniform and standardized process for the movement of goods across the country. It minimizes tax evasion by ensuring that the goods are correctly valued and taxed.

Who should generate an E-Way Bill?

• Any registered person who causes the movement of goods of value exceeding Rs. 50,000 is required to generate an E-Way Bill. The registered person can be a supplier or a recipient of the goods.
• If the registered person has not generated the E-Way Bill, then the transporter responsible for the transportation of goods is required to do it.
• When an unregistered person makes a supply to a registered person, the receiver must ensure that all the compliance procedures are followed.
• There are a few other cases in which an E-Way Bill is required. Like inter-state movement of goods by unregistered person/s and the movement of goods for reasons other than supply.
• E-way Bill must be generated before the commencement of the movement of goods. Except in certain circumstances, and it must be carried during transportation.

Penalties for Non-Generation Of E-Way Bill

If an E-Way Bill is not generated, an incorrect E-Way Bill is carried, or if it’s not available with the person in charge of the conveyance, then a penalty will be charged. Penalty of??10,000 or the tax amount involved in the offense, whichever is higher, shall be levied.

Conclusion

The E-Way Bill system has brought significant changes in the way transportation of goods takes place in India. By adopting the LogiTax E-Way Bill solution, you can improve your business’s overall efficiency, save time, money, and stay compliant. Make the switch today and elevate your logistics operations!

Click here to know more about recent changes in law for Gap of E-Way Bill and dispatch date.