Moving goods worth more than Rs 50,000 under GST will require prior online registration of the consignment and securing an ‘e-way bill’ that tax officials can inspect anytime during the transit to check tax evasion.
Registered entities should furnish information on GST Network (GSTN) website if they have to move goods worth more than Rs.50,000 within a state or outside.
GSTN will generate e-way bills that will be valid for 1 and 15 days, depending on distance to be traveled one day being for 100 kilometers and 15 days for more than 1000 km transit.
The process requires participation by the supplier, the transporter and even the recipient.
Upon generation of the e-way bill on the GSTN portal, a unique e-way bill number (EBN) shall be made available to the supplier, the transporter and the recipient of Goods.
E-way or transit bills will be required for transport of goods outside the GST ambit such as petrol or diesel or even exempt goods like agricultural products.
You must be logged in to post a comment.