E-way bill
is an electronic document generated on the GST portal evidencing the movement
of goods. Electronic GST
invoicing has two components.
Part A comprises of details of GSTIN of the recipient, place of delivery
(PIN Code), invoice or challan number and date, the value of goods, HSN code,
transport document number (Goods Receipt Number or Railway Receipt Number or
Airway Bill Number or Bill of Lading Number) and reasons for
transportation. Part B comprises of transporter
details (Vehicle number).
The electronic
invoicing tool
is in continuation of changes in the tax environment, ranging from auto
calculation of distance for movement of goods to barring businesses from
generating multiple e-way bills supported by one invoice. The purpose of the E-way bill is to ensure
that goods are transported under the GST Compliant Invoice Act and it is
considered as an effective tool to track the movement of goods and check tax
evasion.
Part A of
the E-way bill needs to be filled in by the person who is causing the movement
of goods of consignment where the value exceeds Rs.50,000/- per the original notification. Part B details are to be provided by the
person who is transporting the goods.
The registered person (consignor or recipient) who transports the goods
to generate the e-way bill by providing information in part B on the GST common
portal. The registered person needs to
obtain a unique Invoice Reference Number (IRN) from the common portal by
uploading the tax invoice issued by him in FORM GST INV-1 and produce the same
for verification. Such a number will be valid for a period of thirty days from
the date of uploading. The trial version for the GST Invoicing tool is
available from SmartAdmin for small and medium enterprises to handle the
requirements of e-invoicing and can do Free Trial now.
Trucks
caught without e-way bills will be levied a penalty of as per the notification
prevailing. Besides, the cargo itself
can be inspected to ascertain tax evasion.
A penalty to the tune of 100% of the tax being evaded can be levied
alongside the tax itself if evasion is proven and each the vehicle and goods
can be impounded. There are a few cases
when the e-Way bill is not required. However,
such info is keeping on getting updated and needs to compare with such notification. In general, when goods are transported by a
non-motorized conveyance the e-Way bill is not needed. Also when goods are transported from the
port, airport, air cargo complex and land customs station to an inland
container depot for clearance by Customs such E-Way bills are not need. The
e-Way bill can be canceled as well. When
goods are not transported as per the details furnished in the e-way bill, the
e-way bill can be canceled electronically on the common portal, within 24 hours
of generation of the e-way bill.
However, an e-way bill cannot be canceled if it has been verified in
transit.
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ADMIN is a cloud-based software for generating GST Compliant Invoice, Payroll
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