In this post, we will discuss the recent news about GST. It has been said that the GST e-Way Bill is to be implemented from Feb 1st, 2018.
First, we will discuss a brief about what an e-way bill is and how it works.
E-way bill is a bill which is generated by the movement of goods between states. To generate the e-way bill, the value of the goods has to be more than Rs.50,000.
GST e-Way Bill will bring about a seamless transport of goods between the states if implemented.
To generate the e-way bill, the supplier and transporter have to upload details on the common GST Network portal. After the upload, a unique e-way bill number (EBN) will be available to the supplier, the recipient and the transporter on the common portal.
Earlier, it was said that till such time as a nation-wide system is implemented, the states should implement their own e-way bills. Now, after an online council meet, it has been decided that the e-way bills will be made available.
This was causing some undue hardship in the inter-state movement of goods. For this reason, the council has decided to come up with a nation-wide system sooner than later.
Suppliers and transporters can start using this feature in GST portal from Jan 16, 2018, on a trial basis. And from 1st of Feb, it is mandatory to have the e-way bill while transporting goods worth more than Rs. 50,000 between states.
For easy generation and management of e-way bills, try out GST software – Saral GST.