E-way bill is an electronic document generated on the E-waybill portal evidencing the movement of goods. It is a document that helps the department to curb tax evasion as a tax invoice or a delivery challan always backs it. The main objective of the e-waybill is to provide specific information about the shipment, such as origin, destination, and contact information for the supplier and receiver, along with their GSTINs.
The E-way bill is an important document that enables the tax authorities to track the movement of goods and ensure it complies with the GST regulation.
Features of E-way Bill:
- Validity Period: the validity period of the e-way bill depends on the distance covered by the goods being transported based on the pin codes. The current validity is 200 kms per day in the case of regular vehicles, and in the case of over-dimension cargo, it is 20 days.
- Part A and Part B: The e-way bill is divided into two parts, Part A and Part B. Part A contains details of the goods being transported, while Part B contains details of the vehicle through which the goods are being transported.
- Consolidated e-way bill: If multiple consignments are being transported in a single conveyance, the transporter can generate a consolidated e-waybill with the details of all the e-waybills.
- Updating and Cancellation: The e-way bill can be updated if there is any change in the details of the goods being transported or any change in the vehicle number on account of a break-down of the vehicle or struck due to some natural disasters like floods or landslides etc.,
- Cancellation of e-waybill: The e-way bill can also be canceled if the goods are not transported for reasons beyond the control of the supplier, and it is possible to cancel within 24 hours of the generation of the tax invoice.
- Users can monitor e-way bill generation on their accounts.
- Alters will be sent to users through mail and SMS on registered mail id/ mobile number.
- Vehicle number can be entered/updated either by the supplier /recipient of goods who generates the e-way bill or by the transporter.
- QR code will be printed on each e-way bill enabling the department officials to scan and read the consignment details.
- Multiple modes are being provided for the generation of e-way bills.
Benefits of E-way Bill:
(1) Reduction in Tax Avoidance: The e-way bill system prevents tax avoidance by collecting the correct tax from the right person at the right time.
(2) No waiting time: The e-way bill system helps in saving time at the check post and faster movement of goods, thereby, optimum use of the fleet.
(3) No need to visit tax checkpoints: Taxpayers/transporters need not visit any tax officers/checkpoints for the generation of e-way bill movement of goods across states.
(4) User-friendly e-way bill system.
(5) Smooth tax administration: The e-way bill helps in simplification for easier verification of e-way bills by tax officers.
(6) Smooth documentation process: The e-way bill system simplifies the documentation process by reducing the paperwork and smoothing the documentation process.
(7) Faster Movement of Goods: The e-way bill system enables faster movement of goods by reducing the time.
(8) Fast and Efficient Transportation: The e-way bill system has made the transportation of goods faster as there are no check posts post-implementation of GST.
(9) e-way bill system promotes a more digital interface, facilitating faster movement of goods in comparison to a physical interface.
(10)The e-way bill system is digitized; it saves paper, making it eco-friendly.
(11)The e-way bill system provides an accurate tax analysis.