2018-01-04


E-way bill system in GST likely to kick in from October


Late last week, India witnessed its biggest taxation reform Goods and Services Tax (GST). The GST provision, requiring any good more than Rs 50,000 in value to be pre-registered online before it can be moved, is likely to kick in from October after a centralised software platform is ready, a top official said. The provision, called the e-way bill, would be implemented after infrastructure for smooth generation of registration and its verification through hand-held devices with tax officials is ready. The full impact of GST on smartphone prices is still not completely clear, the government’s decision to impose 10% import duty on smartphones is sure to boost ‘made in India’ smartphones. The information technology platform for the e-way bill system is being developed by the National Informatics Centre (NIC) along with GST-Network — the company which has developed the IT backbone for the new indirect tax regime. The Centre has also decided to relax the timeline provision under which the e-way bill generated by GSTN for 20 days for goods travelling more than 1,000 km. Earlier, this was 15 days. As per the provision, GSTN would generate e-way bills that will be valid for 1-20 days, depending on distance to be travelled — one day for 100 km, 3 days (100 to less than 300 km), 5 days (300-less than 500 km) and 10 days (500-less than 1,000 km).

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