E way bill - a new concept under gst

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CA Nipun Goyal (Querist)
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22 August 2017 Due to large cases of corruption seen during the time of Value Added Tax, a new concept of way bill has been brought under Goods and Services Tax by name E way Bill.E way Bill will required to be generated in cases of supply of goods having value more than Rs. 50000 or when goods have been purchased from an Unregistered Dealer by a Registered Dealer.Here supply will not only include Sale against money, but also include Sale without money as well as Sale without consideration. For example, Exchange of Goods under Barter System and Inter Branch transfer of goods.Persons who can generate E Way BillE way Bill can be generated by following persons:1. Consignor (who transfers the goods)2. Consignee (who receives the goods)3. TransporterE way Bill can be generated by any of them by filing form GST INS1 from the website of GSTN.Concept of Consolidated E way BillIf there are more than one item to be transported to more than one consignee by the same vehicle, then besides individual E way bill, a consolidated E way Bill is also required to be generated by the Transporter.Validity of E way Bill GeneratedValidity of E way Bill depends upon the distance to be travelled by the vehicle, having validity period of 1-15 days.S.No. Distance Validity Period1. 1- 100 Kms 1 Day2. 101- 300 Kms 3 Days3. 301- 500 Kms 5 Days4. 501- 1000 Kms 10 Days5. More than 1000 15 DaysFrequently Asked Questions:Ques 1: What if goods are transferred by one vehicle to another vehicle during transportation after generation of E way Bill, will there be requirement to generate E way bill again for new vehicle?Ans: Yes, if goods are transferred from one vehicle to another vehicle by any reason (accident of vehicle, etc.) then again E way bill will be required to be generated before transferrig the goods to another vehicle.Ques 2: What if value of items to be transported to a specific consignee is less than Rs. 50000 but value of all the items to be transported is more than Rs. 50000, will there be requirement of generating E way Bill?Ans: Yes, since value of items to be transported by a single vehicle is more than Rs. 50000 therefore Consolidated E way Bill will required to be generated by the Transporter.Ques 3: Will there be requirement of E way Bill if goods are purchased by an Unregistered Dealer from an Unregistered Dealer?Ans: No, there is no requirement of generating E way bill if goods are purchased by an Unregistered Dealer from an Unregistered Dealer only when value of goods is less than Rs. 50000.In case of any doubt, mail me at nipungoyal.ca@gmail.comAbout Author:Author is a Chartered Accountant by Profession.