What is an E-Way Bill?
Created via the E-Way Bill Portal, the E-Way Bill is a digital document that tracks the transportation of products. A registered person is not allowed to move goods in a vehicle valued more than Rs. 50,000 (per invoice, bill, or delivery challan) without an e-way bill created on ewaybillgst.gov.in, according to GST legislation. In addition, site-to-site connection via API, SMS, and Android App can be used to generate or cancel e-way bills by providing the correct GSTIN of the relevant parties. It is imperative that you use the GST search tool to confirm the GSTIN before using it. A unique E-way Bill Number (EBN) is assigned and made available to the supplier, recipient, and carrier at the time of E-way Bill production.
Benefits of an E-Way Bill?
Mitigation of Tax Evasion: By guaranteeing that the correct tax amount is collected from the legitimate party at the appropriate time, the e-way bill system successfully reduces tax evasion.
Simplified Documentation: By lowering the amount of paperwork and increasing efficiency, the e-way bill system streamlines and simplifies the documentation process.
Accelerated products Movement: Better logistics and shorter transit times result from the quicker movement of products made possible by the e-way bill syste
m.
Who Must Produce An E-Way Bill?
For Registered Persons: When products valued at more than Rs 50,000 are being transported to or from a registered person, an E-Way bill is required. Either the registered individual or the carrier may choose to create and carry an even in cases where the value of the products is less than Rs 50,000..
Document Required
- Invoice
- Bill of Supply
- Challan relevant to the shipment of goods
- Transporter ID or the vehicle number
- Transport document number
- Date of transport
- Mobile No & Email ID