Craig Bowen 
An E-way bill is an electronic waybill automatically generated on India’s official GST (goods and service tax) portal to enable the movement of goods in and out of the county. Any agent or supplier wishing to transport goods whose consistent value exceeds ₹50,000 must produce and generate an E-way bill. Its purpose is to serve as a mechanism to ensure that goods being transported comply with the Indian GST Law. E-way statements are a useful tool for tracking the movement of goods and checking tax evasion. Two parts make up an E-way bill. They are:
- Part A: This section of the E-way bill requests an individual for details such as the recipient’s place of delivery, GSTIN, challan date and number, goods value, the HSN code, the transport document number (also known as Goods Receipt Number in the case of transportation by road) and, finally, reasons for the vehicle. Carrier can include supply, import, export, job work, sales return, exhibition, etc. Part A is to be filled by the supplier, recipient, e-commerce operator, transporter, etc.
- Part B comprises transporter details (such as one’s transporter ID and Vehicle number). The second part of an E-way bill contains all the transportation details used to generate it. Part B is to be filled by the supplier if she is transporting goods owned or if the supplier has hired conveyance. The transporter can also fill part B. This happens if the supplier enlists the use of the services of a transporter, in which case the information related to PART A can be sent to the transporter along with filling PART -B.
An e-way bill’s validity can begin when a transporter files the second part of the bill, as per the Finance Ministry of India. The mechanism to track the movement of goods worth over ₹50,000 interstate for GST was to be rolled out from midnight. Since the transporter might begin the movement of goods quickly after being handed over the consignment, the clarification will assume significance.
How is an E-way bill generated?
An invoice reference number is obtained from the common portal by uploading a tax invoice on the said portal by the registered individual. The tax invoice can be issued by filling out FORM GST INV-1. Verification will be produced by the correct officer instead of the tax invoice. The generated number shall be valid for thirty days from the date of uploading.
In the case mentioned above, the registered individual need not upload the information from Part A of FORM GST EWB-01 to generate e-way bills. The same shall be auto-populated using a shared portal with the help of the information supplied in FORM GST INV-1. Once the e-way invoice is generated upon the shared exit, the common portal will generate an EBN or unique e-way bill number. The EBN will be available to the supplier, the recipient, and the transporter on the common portal.
If, under special circumstances, one cannot transport their goods within the validity period offered by one’s e-way bill, one’s transporter can generate a second e-way bill. This can be done by updating one’s details in Part B of FORM GST EWB-01. Be sure to visit the official E-way bill error code list to ensure you fill out your E-way bill perfectly.
Knowing how an E-way bill operates is vital for most businesses since they commonly deal in moving goods from one location to the other. Finserv MARKETS understands businesses and their multifold requirements. Did you know you can apply for a business loan on Finserv MARKETS that will offer up to Rs. 30 Lakhs? You also receive financial assistance without having to pledge any security as loan collateral. Applying for a business loan on Finserv MARKETS requires minimal documentation, along with offering instant disbursal.
