E-way Bill

Why in News?

The GST Council announced the third phase, from April 25, in which the e-way Bill system will become applicable for Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim, and Puducherry.

 

FACTS FOR PRELIMS

Background

While the e-way bill system is applicable across the country for the inter-State transport of goods, it is so far applicable for intra-State transport in Andhra Pradesh, Bihar, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Telangana, Tripura, Uttarakhand, and Uttar Pradesh.

E-way Bill System

The e-way bill can be electronically generated (on the government portal) either by the supplier or recipient of the consignment, before the movement of goods. The transporter needs to carry an electronically generated e-way bill, with every consignment having a value exceeding INR 50,000.

All consignments moving for more than 10km from there point of origin will require prior registration and generation of an e-way bill through the GST Network which will be valid for varying duration depending on the distance travelled. There is provision for the cancellation of e- way bill within 24hrs of its generation.

Significance

With the roll-out of e-Way Bill system in these States, it is expected that trade and industry will be further facilitated insofar as the transport of goods is concerned, thereby eventually paving the way for a nation-wide single e-Way Bill system.

 

Source-The Hindu.