What is an E-way Bill, and when is it required?
An E-way Bill is an electronic document mandatory for the movement of goods worth more than ₹50,000 within India. It contains details like the GSTIN of both consignor and consignee the HSN code of goods, and transportation details.
How is an E-way Bill generated and registered on the E-way Bill portal?
Registered GST taxpayers transporting goods can generate and register an E-way Bill on the portal. Details like invoice number, date, consignment value, transporter ID and vehicle number are required for generation.
What are the types of transactions that require an E-way Bill?
An E-way Bill is essential for transactions such as sales, transfers, job work or exports where the consignment value exceeds ₹50,000.
What is the validity period of an E-way Bill, and can it be extended?
The validity depends on the distance: one day for every 100 km or less with an additional day for each subsequent 100 km. Once expired the E-way Bill cannot be extended.
What happens if an E-way Bill is not generated or unavailable during goods transportation?
Failure to generate or carry an E-way Bill can lead to penalties, seizure of goods or other legal actions by authorities.
How can businesses ensure compliance with E-way Bill regulations and avoid penalties?
Businesses must generate and carry valid E-way Bills for all eligible consignments. It’s essential to ensure all details in the E-way Bill match invoices and related documents.
Are there any exemptions from generating an E-way Bill?
Yes exemptions exist for goods transported via non-motorized conveyances or within a state where consignment value is below ₹50,000 among others.
Can an E-way Bill be canceled? If so, how?
Yes an E-way Bill can be canceled within 24 hours of generation. This can be done by logging into the portal and selecting the cancelation option.
What are the consequences of non-compliance and how can they be avoided?
Non-compliance can lead to penalties, goods confiscation or business disruptions. Generating valid E-way Bills and adhering to regulations ensures smooth operations and avoids penalties.
How can technology and automation help in E-way Bill generation?
Automation simplifies E-way Bill generation by allowing bulk uploads of invoices auto-calculating distances and integrating with accounting software. It saves time and minimizes errors.
How can E-Filing Buddy help with E-way Bills?
E-Filing Buddy assists businesses in generating and managing E-way Bills. We offer step-by-step guidance validate details before submission and provide assistance with cancelations. With expert advice we ensure compliance helping you avoid penalties and keep your logistics seamless.