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GST to have e- way bill to move goods.

REGISTERED entities who want move goods worth over Rs 50,000 under the new Goods and Services Tax regime will have to register beforehand on the GST- Network ( GSTN) website and get an electronic- way bill that tax officials can inspect anytime during the transit, according to Central Board of Excise and Customs ( CBEC) draft rules.

The rules on e- way bill requires the registered entities to provide information relating to any goods worth more than Rs 50,000 that they intend to move within a state or outside, in a prescribed format.

The move is proposed to check tax evasion.

GSTN will generate e- way bills that will be valid for up to 15 days, depending on distance to be travelled-- one- day validity for 100 kilometres and 15 days for over 1,000 km transit.

The supplier, the recipient and the transporter will also be given a unique e- way bill number ( EBN), said the draft norms.

The person in- charge of conveyance will have to carry the invoice or bill of supply or delivery challan, and a copy of the eway bill or the e- way bill number, either physically or mapped to a Radio Frequency Identification Device ( RFID) embedded on to the conveyance.

The rules authorise the tax commissioner or an officer empowered by him on his behalf to intercept any conveyance to verify the e- way bill or the number in physical form for all inter- state and intrastate movement of goods.

Physical verification of conveyances can be carried out on specific information of tax evasion. The officer will be required to submit a summary report of every inspection of goods in transit within 24 hours and the final report within three days of inspection. Where a vehicle has been intercepted and detained for a period exceeding 30 minutes, the transporter may upload the information in on the GSTN) portal, said the guidelines.

Nangia & Co Director ( Indirect Taxation) Rajat Mohan said the e- Way bill will give respite to countless transporters.

Aim to check tax evasion in transit of goods

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Publication:Mail Today (New Delhi, India)
Date:Apr 15, 2017
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