The deduction of tax at source (TDS) and collection of tax at source (TCS) has also been deferred by another 3 months until June 30. E-Way or electronic-Way Bill for intra-state movement of goods will be introduced in a phased manner.
“States have been divided into four categories. State-wise implementation of e-way bill will be done on a weekly basis (after April 7). Will try to implement it in all the states by end of April,” Jaitley said.Goods and Services Tax’s (GST) e-Way bill system is a crucial measure against tax evasion and it also promises to enable faster movement of goods through a seamless portal-driven payment system. The GST Council - the key indirect tax policy decision making body comprising members from the Centre and states - also relaxed certain rules related to e-Way Bill, which will essentially reduce the load on the portal. Technical glitches had aborted the mandatory full-fledged rollout of the system on February 1. Last month, the portal collapsed as it didn't have the bandwidth to handle the large volumes of inter as well as intra-state bills being generated on the site.
“As GST return filing is taking time to stabilise, eway bill can help detect and reduce tax evasion. The staggered implementation is also good development as hopefully the portal will be able to iron out teething issues,” Archit Gupta, Founder and CEO of Clear Tax said.
Here are some of the Tweets by the Finance Ministry with respect to e-way billing;
“For Intra-State movement of goods, e-way Bill System will be introduced w.e.f. a date to be announced in a phased manner but not later than 01st June, 2018.”
“Major improvements over the last set of rules with regard to e-way Bill, as approved by the GST Council now include E-way bill is required to be generated only where the value of the consignment exceeds Rs. 50000/-. For smaller value consignments, no e-way bill is required.”
“Provisions of sub-rule (7) of Rule 138 will be notified from a later date. So now there is no requirement to generate e-way bill where an individual consignment value is less than Rs.50,000/-,even if the transporter is carrying goods of more than Rs.50,000/-in a single conveyance”
“Value of exempted goods has been excluded from value of the consignment, for the purpose of e-way Bill generation. Responsibility of generating e-way bill in case of movement of goods by public transport would be that of the consignor or the consignee.”
“Time period for the recipient to communicate his acceptance or rejection of consignment would be the validity period of the concerned e-way Bill or 72 hours,whichever is earlier. In case of movement of goods on a/c of job-work, registered job worker can also generate e-way Bill.”
Railways has been exempted from generation and carrying of e-way bill with the condition that without the production of e-way bill, railways will not deliver the goods to the recipient. But railways are required to carry invoice or delivery challan etc.
Consignor can authorize transporter,courier agency&e-commerce operator to fill PART-A of e-way bill on his behalf.Movement of goods from place of consignor to place of transporter upto 50 km [ earlier10 km] don't require filling of PART-B but have to generate PART-A of e-way bill
Extra validity period has been provided for Over Dimensional Cargo (ODC). If the goods can't be transported within the validity period of the e-way Bill, the transporter may extend the validity period in case of transhipment or in case of circumstances of an exceptional nature.
Validity of 1 day will expire at midnight of the day immediately following the date of generation of e-way bill. Once verified by any tax officer, same conveyance will not be subject to a 2nd check in any State or UT, unless & until, specific information for the same is received