15.03.2024: E-way bill generation in Feb new second all time high, collection to get boost

E-way bill generation surged to 9.73 crores in February. This is the highest in four months and also the new second-all all-time-high generation. This is expected to have a positive impact on GST collection in March. February figures are also important as the month had only 29 days.

The Finance Ministry will come out with the collection of data for March on April 1.

An e-way bill is an electronic document generated on a portal, evidencing the movement of goods and indicating whether tax has been paid or not. As per Rule 138 of the CGST Rules, 2017, every registered person, who causes the movement of goods (which may not necessarily be on account of supply) of consignment value of more than ₹50,000 (can be lower for intra-state movement) is required to generate an e-way bill.

During last three months (December, January and February), e way bill generation has been more than 9.5 crore. Also, month of October saw all time high generation of over 10 crore. One basic reason of this rise is better compliance. Although, this is not the main reason behind collection of over Rs 1.66 lakh crore, but experts feel this is one important reason behind higher collection and trend is expected to continue further.

Source: The Hindu Business line 

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