Five Things About The GST E-Way Bill

1. What is an E-way bill: The E-way bill is an instrument required to be carried by a person in charge of the transference loading any distribution of goods of value exceeding Rs. 50,000 as mandated by the Government regarding section-68 of the Goods and Services Tax (GST) Act. It is established from the GST Common Portal by the registered customer.

2. What is Part A Slip: Part-A Slip is an alternate number generated after entering all the particulars in Part-A. It can be common or used by agent or yourself for come in the Part-B and accomplish the E-way Bill. This will be fruitful when you have prepared invoice relating to your business activity, but don’t have the transportation details. You can enter invoice details and keep it ready for transportation, once the transport is available.

3. When to Generate Part-A and Part-B: The taxpayer can enter Part-A specifics and generate the Part-A slip. Sometimes, the taxpayer wants to move the goods himself but wants to update the Part-B later as vehicle number is not available then. The E-way bill required the user to enter transporter ID. So if he wishes to move the things himself, he can fill his GSTIN as transporter id and generate Part-A Slip. It indicates to the system that is a transporter, and he is going to enter Part-B later.

4. Who Should Generate E-Way Bill: Every registered person who does the movement of goods of consignment value exceeding fifty thousand rupees about supply  It means, the consignor or consignee, as a registered person or a transporter of the products can make the e-way statement.

5. Validity Of the E-way Bill: The validity of the e-way bill starts when the first entry is made in Part-B. That is, vehicle entry is created the first time in case of road transportation either/or first transport document number entry in case of rail/air/ship transportation, whichever is the 1st entry. It may be acclaimed star that validity is not re-computed for subsequent entries in Part-B. The e-way bill once set up, can’t be edited or modified. Only Part-B can be updated to it. However, if the e-way bill is filled with wrong information, it can be canceled and developed freshly again. The elimination start is required to fulfill within twenty-four hours from the time of formation.

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