The GST Council, in its 26th meeting, has given a go-ahead for rolling out E-way Bill. The E-way Bill mandate will kick-off with inter-state transactions, followed by intra-state movement of goods. Here are three important things to be aware of
- What are key dates and timelines for E-way Bill implementation?
- E-way bill for interstate movement of goods will start from 1st April 2018
- E-way bill for intrastate movement of goods will start from 15thApril 2018 in a phased manner
- States for intrastate implementation will be divided into 4 lots to execute a phase-wise rollout
- 1stJune 2018 is the stipulated date by which all states will be using EWB portal for intrastate movement of goods also
- What are transactions under which an E-way bill needs to be generated?
Even if the movement of goods is caused due to reasons other than supply, an e-way bill is required to be issued. The reasons other than supply include movement of goods due to:
- Job Work
- Semi Knocked Down (SKD)/Complete Knock Down (CKD)
- Recipient (Unknown)
- Line Sales
- Sales Returns
- Exhibition or Fairs
- When is the mandatory generation of E-way bill for values less than Rs. 50,000?
For certain specified goods, the e-way bill needs to be generated mandatorily even if the value of consignment of goods is less than Rs.50,000
- Interstate movement of goods by the principal to job worker and from job worker to the principal
- Interstate transport of handicraft goods by dealer exempted from GST registration
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You can avail our 15-day free trial offer of the full version of IRIS Topaz. You can enroll for a free webinar here. For details please contact, For further details please write to email@example.com or visit our site www.irisgst.com