E-way bill provisions have come into effect from 1st April 2018 for inter-state transactions and will be effective for all intra-state transactions by June 2018.
India, is a big economy with wider geographical anomalies. Here people live in terrains, deserts, land and mountains connected by roads, rail, air and even water at some places.
E-way Bill is to be issued irrespective of whether the movement of goods is caused by reasons of supply or otherwise.
Common Enrolment number is a 15-Digit unique number available exclusively for transporters registered in multiple states under a single PAN, for the generation and updation of their EWB.
Under GST regime, in order to deliver the goods in a hassle-free manner, a transporter (Registered and Unregistered) is required to fulfil the 5 key responsibilities
The GST Council, in its 26th meeting, has given a go-ahead for rolling out E-way Bill. The E-way Bill mandate will kick-off with inter-state transactions, followed by intra-state movement of goods.
The Input Tax Credit mechanism allows a taxpayer to reduce his tax liabilities on his sales with the taxes paid on inward supplies.
Clearing the fog about a major misconception surrounding the E-invoice generation, it is not mandatory for a taxpayer to generate E-invoice through the government’s tax portal.
The integration of GST EWay Bill with FASTag, envisaged in January 2019 with the revenue department setting up an officers committee to integrate e-way bill, FASTag and Delhi-Mumbai Industrial Corridor’s (DMIC’s) Logistics Data Bank (LDB) services, finally came into effect last week.
GSTR-1 is a monthly or quarterly return (based on taxpayer’s annual turnover) that should be filed by every registered dealer. The due date for GSTR-1 is based on the taxpayer’s annual turnover.
In an attempt to lower the possibilities of GST evasion, e-way bill system was rolled out on April 1, 2018, for inter-state movement of goods worth over Rs 50,000.
GSTN brings relief to companies engaged in Job Work. The due date for filing ITC-04 for period from July 2017 to March 2019 hs been extended till the 30th June 2019.
