Streamlined Process for GST eWay Bill

An e-way bill, short for Electronic Way Bill, is a digital document that plays a crucial role in tracking the movement of goods. It's particularly significant within the framework of the Goods and Services Tax (GST) system. This bill becomes mandatory when goods valued over Rs. 50,000 are transported by an individual or entity registered under GST. GST eWay Bill should be generated before the commencement of the transportation of the consignment.

At IndiaFilings, we offer LEDGERS software designed to generate e-way bills seamlessly. Contact our experts today and start effortlessly generating your e-way bills with LEDGERS.

What is an e-Way bill?

An E-way bill, short for electronic way bill, is essential for the movement of goods in both inter-state and intra-state transportation under the GST regime.

An E-way bill is an electronic document generated on the e-way bill portal (ewaybillgst.gov.in), which serves as proof of the movement of goods. It acts as a digital compliance tool under the GST framework, where the consignor or seller inputs relevant information about the goods before they are transported and generates an e-way bill on the GST portal.

According to GST regulations, any person registered under GST who initiates the transportation of goods with a consignment value exceeding Rs. 50,000 must provide details of these goods in an E-way bill before the goods begin their journey.

The requirement for an e-way bill is mandated under Section 68 of the CGST Act and further detailed in Rule 138 of the CGST Rules, 2017.

The requirement to use an e-way bill for interstate supplies came into effect on April 1, 2018. It was extended to intrastate supplies in certain states (Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim, and Puducherry) starting April 25, 2018.

Key Components of eWay Bill

The e-way bill, crucial for the movement of goods in India, consists of Part A and Part B.

Part A of the e-way bill

Part A of the e-way bill involves gathering vital information about the consignment, primarily related to the invoice. The details required in Part A include:

1. GSTIN of the recipient, i.e., the person to whom the goods are supplied.

2. Pin code of the delivery location.

3. Invoice or challan number linked to the goods' supply.

4. Value of the consignment, indicating the monetary worth of the transported goods.

5. HSN code of the goods. Businesses with a turnover of Rs. 5 crores should mention the first two digits of the HSN code, while those with a turnover above Rs. 5 crores need to provide a four-digit HSN code.

6. Reason for transportation, chosen from a list of predefined options.

7. Transport document number, which could be the goods receipt number, airway bill number, railway receipt number, etc.

Part B of the e-way bill

Part B of the e-way bill captures the transportation specifics. This includes the vehicle number for road transport or other conveyance details via rail, air, or ship. Part A and B are required to constitute a complete e-way bill, which is obligatory for transporting goods exceeding Rs. 50,000 in value, within or across state lines, under the GST framework.

Validity of Eway Bill

There is a specific validity period for an e-way bill, which is determined based on the distance the goods are transported. The e-way bill is valid for one day for every 100 kilometers or part thereof for regular vehicles or standard transportation modes.

In the case of Over Dimensional Cargo (ODC) vehicles, the validity is one day for every 20 kilometers or part thereof. It's important to note that this validity period expires at midnight on the last day.

What are the penalties associated with the e-way bill?

The individual responsible is penalized if a consignment is transported without an e-way bill. This penalty is either Rs. 10,000 or an amount equal to the tax evaded on the consignment, whichever is higher.

Introduction to IndiaFilings' LEDGERS Software

IndiaFilings offers a robust solution with our LEDGERS software, streamlining the process of generating eWay Bills. This software is designed to simplify the complexities of eWay Bill generation, making it a straightforward task for businesses of all sizes. By using LEDGERS, you can efficiently create eWay Bills with ease and accuracy, ensuring compliance with the GST regulations. The platform's user-friendly interface allows for quick data entry and seamless integration with business operations, thus enhancing overall efficiency. Whether it's a single eWay Bill or multiple ones, LEDGERS is equipped to handle the requirements efficiently, making it an indispensable tool for businesses navigating through the intricacies of GST and eWay Bill compliance.

Ready to simplify your eWay Bill generation process? Contact IndiaFilings today to learn more about LEDGERS and how it can benefit your business operations. Contact us now to start streamlining your GST compliance!