Under the present VAT Regime, different states follow different rules and forms for movement of goods within the respective states and also for Inter state movement of goods. The compliance requirements under the present VAT regime has many restrictions and different procedural formalities to be completed for movement of goods.
The movement of goods under the GST regime is expected to be less cumbersome and assessee friendly. The CBEC has released electronic way bill rules prescribing rules and regulations for movement of goods.
The various aspects of e-way bill under GST regime are discussed below.
What is an e-way bill?
E-way bill is an electronic document created for movement of goods
When is a e-way bill mandatory?
When there is a movement of goods of value more than Rs. 50000 by a registered person , e way bill is mandatory. The movement of goods may be for supply of goods, return of goods or for supply from a unregistered person
How to generate a e way bill?
The registered supplier or the recipient In case of supply from unregistered person, can generate e way bill electronically through GSTN portal in Form INS-01.
What is the validity of the e way bill?
The eway bill , once generated will be valid for 1,3,5,10 or 15 days from the date of generation of the same , depending on the distance the goods have to be transported.
Can a e way bill once generated be cancelled?
When an e way bill is generated , but the goods are either not being transported or the details as furnished in the generated bill are different, the e way bill can be generated within a period of 24 hours of generation of the e way bill.
What is the validity of the e way bill?
The validity of the e way bill is based on the distance
Distance Validity period (days)
Less than 100 kms 1
100 km or more less than 300 kms 3
300 km or more less than 500 kms 5
500 km or more less than 1000 kms 10
1000 kms or more 15
The commissioner may extend the validity period of the e way bill for certain categories of goods as may be specified.
Time limit for acceptance of e way bill
Once the details of the e way bill generated shall be made available to the recipient, if registered , on the common portal, who shall communicate his acceptance or rejection of the consignment covered by the e way bill, within 72 hours of the details being made available to him on the common portal.
What happens if the recipient doesnt confirm the acceptance within 72 hours?
If the same is not accepted or rejected by the recipient within 72 hours, it is deemed to be accepted the details as uploaded through e-way bill.
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