e-way bill is short for Electronic Way Bill. GST E-way bill is a document used to track goods in transit introduced under the Goods and Service Tax. A taxable person registered under GST involved in the transportation of goods with a value of over Rs.50,000 must possess an E-way bill generated on the GST Portal.
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According to the National Informatics Centre, “the e-Way Bill System under GST regime has achieved a new milestone by generating 7.12 Crores e-Way Bills in March 2021, highest in a month during the last three years.” These statistics reflect the high demand of the Electronic Way Bill.
Under the Goods and Service Tax, the E-way bill is used to track goods in transit. A taxable person registered under GST must possess an E-way bill if they transport goods worth more than Rs.50,000.
As part of generating an E-Way bill, a unique EBN is assigned. Suppliers, recipients, and transporters will have access to this EBN. When transporting goods, the person responsible for them must carry a document.
E-way bill generation and management are now simplified for businesses with LEDGERS. GST invoices, bills of supply, purchase invoices, and customer or supplier accounts are all synchronised with the Ledger’s E-way bill tool.
E-Way Bills can be generated and shared with customers or suppliers with the press of a button. The regulations governing the flow of products are outlined in the E-way bill guidelines. It should be noted, however, that when the GST Act went into effect on July 1st, the execution of the E-way law was delayed.
Following are the documents which are crucial at the time of generating the electronic waybill:
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Every registered person before the movement of the goods of the consignment value of more than Rs.50,000/- shall generate an E-way Bill.
Yes, only with the registered person’s permission may the transporter fill out Part A of Form GST-EWB-01.
When the goods to be transported are supplied through an e-commerce operator or a courier agency, such e-commerce operator or courier agency may furnish the information in Part A of FORM GST EWB-01 on an authorisation received from the consignor, and a unique number will be generated on the said portal.
Regardless of the value of the consignment, the principal or job-worker is responsible for generating the E-way bill.