Know everything about the GST E-Way Bill?
Nowadays, a new way of GST is introduced in the market that is nothing but GST E-Way Bill. The question may arise in your mind that what this GST E-Way Bill is and its use, and all other problems.
So in this article, we will see all the details about GST E-Way Bill. So without wasting time, let us dive into the article.
What is GST E-Way Bill?
Electronic Way Bill (E-Way Bill) is an original bill/record that is produced electronically for the specific development/transfer movement/consignment of goods from one place to another. This development is either interstate or intrastate and worth more than INR 50,000, needed under the current Section 68 of the Goods and Services Tax Act.
E-way bill is produced from the E-way charge framework by the enrolled citizen (having a verifiable GSTIN) or carriers (enlisted or unregistered). An E-way statement should be made before the beginning of the development of goods or transfer.
Who needs to generate an E-Way Bill? And, what are the criteria and the right time to develop?
Any carrier who begins carrying goods ought to know about all the guidelines identified with E-way bill generation. The accompanying people can create the E-way Bill.
Any registered person when there is a change of goods above the value of Rs. 50,000 it is compulsory to generate an e-way bill
Suppose any unregistered persons who are carrying out transportation services will also need to create an e-Way Bill. The receiver will need to ensure that all the necessary agreements will adhere to all documentation when an unregistered person completes a registered individual's supply transaction. Read more: E-way Bill in case of Supply by unregistered person
If the supplier does not provide the documentation, a transporter requires to create an e-way bill for carrying a consignment of goods by rail, air, or freight.
What is the validity period for the E-way bill?
The E-way bill’s validity relies on separating the products that must be shipped, and the vehicle utilized for transportation. If there should arise an occurrence of ordinary vehicle or transportation modes, one-day validity has been given for every 100 KMs or part of its development. Furthermore, if there should arise an occurrence of Over Dimensional Cargo vehicles, one-day validity is provided for every 20 KMs or part of its development.
Steps to Generate E-Way Bill
Let us see the following steps to generate the E-way bill.
Step 1: Log in to E-Way Bill Portal https://ewaybill.nic.in/ with your login credentials so that it is compulsory to have a GST and transporter registration to generate E-way Bill.
Step 2: Then, you will need to click on the “Generate new” option, and the main menu page will arrive with a new generation form.
Step 3: Then you need to fill in the required details,
Select the essential type to “Outward” if you are a supplier
Select the essential type to “Inward” if you are the receiver and enter the supplier and receiver details along with GSTIN, anywhere appropriate. Some of the fields will be auto-populated once you provide a GSTIN number.
Step 4: Provide goods description
- Product Name and Description must be filled accurately and complete just as you do it in your tax invoice.
- For the Product, enter HSN Code. Also, there you can find the HSN code.
- Enter the CGST/IGST applicable charges. IGST will be suitable for inter-state transport and SGST / CGST for the intra-state transport select wisely.
- Enter the approx transportation distance, which will determine the validity of the E-way bill you generate.
Step 5: Click on “Submit”
To generate your E-way bill, click on the “SUBMIT” button at last. The E-way bill will appear, containing the E-way bill number and the QR Code that includes all the details. Print the copy of the Bill and provide it to the transporter, who will transfer it throughout the trip until the receiver gets the Bill.
Can an E-way bill be modified or canceled?
The E-way bill, once created, can’t be altered or changed. Just Part-B (which comprises of vehicle subtleties) can be refreshed. Be that as it may, if an E-way bill is produced with incorrect data, it tends to be dropped and created anew. The retraction is needed to be done 24 hours from the hour of age.
This is all about the E-way bill; however, before going forward with the E-way bill, you should contact the GST Return service provider once. The GST Return will guide you properly according to the market, which will help you properly allover.
Also, when it comes to GST Return service provider, no is best than taxwink.com, so before proceeding with an E-way bill, you should contact taxwink.com once. So what are you waiting to pick your phone and book your slot now?