E Way Bill System For GST From February 1, 2018

Due to the IT network readiness, the requirement to carry the e-way bill was postponed, which was a necessity after the implementation of the Goods and Services Tax or GST from July 1, 2017.

The transporters who carry goods in between the various states need to carry electronic way bill or e-way bill in order to put a stop the rampant tax evasion and hike the revenue generation up to 20 percent.

However, the e-way bill will be mandatory after February 1, 2018, which is a positive move.

E Way Bill System For GST From February 1, 2018

The rule was even implemented in the 17 states, which were already following a strict rule of carrying an electronic challan even before the GST was instated. Previously the businessmen preferred cash transaction to give the tax payment amiss. This affected the economy in a great way. After the implementation of the electronic bill, the chances of tricking the government will become negligible which will contribute to the accentuated revenue generation.

The goods that move from one state to the other with a value of more than Rs. 50,000 will be under the strict surveillance of the government. If any mismatch in the tax is observed the same will be traced to take strict action.

The inter-state e-way will be implemented from February 1 and the intra state will be implemented from June 1.

Karnataka represented successful mobility of the e-way bill as the IT personnel stretched their hands to meet the requirements as stated by the government.

The IT professionals have designed a system in which no goods above the value of Rs. 50,000 will be able to obtain a release challan if the e-way bill is not produced. A unique e-way bill number or the EBN will be generated along with the bill, which will assist in locating the supplier, transporter, and recipient.

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