E WAY BILL A BIG BOOST FOR EASE OF DOING BUSINESS

E WAY BILL A BIG BOOST FOR EASE OF DOING BUSINESS- Trial Run from today (16^th January, 2018) Introduction E way bill is an electronic way bill which is generated on the common portal where there is movement of goods from one place to another and also where value of goods exceeds fifty thousand rupees in the following cases:

• in relation to a supply; or
• for reasons other than supply; or (i.e. branch transfer, free samples etc.)
• due to inward supply from an unregistered person (purchases from unregistered person)

Three Parties involved in E way Bill

1. Supplier
2. Recipient, and
3. Transporter

Trade and Transporters can voluntarily start using this Eway bill system from 16^th January, 2018. But from 1^st February, 2018, it is mandatory for transporters to generate e way bill in case of inter-state movement of goods. So far as Intra state movement of goods are concerned, they may choose their own timings for implementation on any date before 1^st June, 2018. The rules for implementation of nationwide e-way bill system for inter State movement of goods on a compulsory basis will be notified with effect from 1^st February, 2018. As of now following states have notified e way bills:

• Karnataka
• Uttarakhand
• Rajasthan

E-way bill will also be allowed to be generated or cancelled through SMS.

Where an e-way bill has been generated, but goods are either not transported or are not transported as per the details furnished in the e-way bill, the e-way bill may be cancelled electronically on the common portal, either directly or through a Facilitation Centre notified by the Commissioner, within 24 hours of generation of the eway bill.

Across nation, E-way Bill system will be ready to be implemented from 16th January, 2018 on trial basis.

Reason of issuing E way 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. Validity of E way Bill The validity of an eway bill depends on the distance travelled by the goods as per the below mentioned table:  

Distance	Validity period
Upto 100 km	One day
For every 100 km or part thereof thereafter	One additional day

Hope this information will help you in your Professional endeavors. For further assistance/query, specimen of forms etc. feel free to mail at [email protected]. Author: C S Ekta Maheshwari is the Author of this article and is a Practicing Company Secretary. The Author can be reached at [email protected] Disclaimer: The entire contents of this article is solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation.. It doesnt constitute professional advice or a formal recommendation. The author has undertook utmost care to disseminate the true and correct view and doesnt accept liability for any errors or omissions. You are kindly requested to verify & confirm the updates from the genuine sources before acting on any of the informations provided herein above.

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