An e-way bill is a mandatory authorization required for the transportation of goods, both within a state and between states, when the value of the goods exceeds Rs. 50,000. This digital document includes information such as the nature of the goods, the sender, the recipient, and the transporter. The e-way bill can be electronically generated using the GSTN (Goods and Services Tax Network) platform.
According to the government, the e-way bill created greater transparency in the movement of goods. In order to strengthen One Nation, One Market, the e-way bill was introduced at the state level from April 1st 2018. And, then from June 16, 2018, for the entire country.
According to the reports, 325 crores e way bills were generated till June 2023. In 2018-19, 55.78 crores; 2019-20, 62.88 were generated. In 2020-21, 61.68 crore and 77.39 crores e-way bills were generated in 2021-22.
The E-way Bill system is crucial for facilitating the movement of goods and preventing tax evasion. It simplifies logistical procedures, resulting in time savings, improved transparency, and increased accountability.
Contents of an E-way bill
An e-way bill has two main components:
Part A contains the following:
Part B contains the details of the transporter such as vehicle number, transport document number, and the transporter’s ID.
These details are required to be filled accurately in the e-way bill, and the bill should be available with the person in charge of the conveyance during the transportation of goods.
Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates