Linkage of Eway Bill With GST Returns

• The requirement for issuance of Eway bills only applies to the movement of goods over and above a threshold limit. In contrast, the data declared in GSTR-1 includes all the supplies regardless of any threshold.

• There may be scenarios where e-way bills will be generated for the movement of goods on delivery challans; these details of supplies will not be reported in GSTR-1.

• There is no need to issue e-way bills in case of a supply of services, whereas the same conditions to be reported in GSTR-1.

• The state-specific requirements, such as different threshold limits and notified products for which e-way bills is will result in further complications.

• Assigning roles for the issuance of eway bills to ‘transporters’ and ‘consignees’ would make reconciliation even more time-consuming.

• The other concern is the reconciliation of the value of goods supplied considering the credit notes issued later by the supplier to view the discounts, deficiency, etc. for the customer.

• Lastly, the possibility of linking e-way bills data with the turnover of a business as a whole cannot be ruled out. Businesses need to prepare themselves and find out whether technological intervention is required to be able to sync reports with the GST database.
   

Know about online GST registration process and fees.

• If the value of transported goods is less than Rs 50,000, the creation or carrying a GST e way bill is optional when. Having a GST e way bill is mandatory if the value of transported goods is more than Rs 50,000.

• Registered businesses under the Composition scheme are also required to generate eway bill; the rules for the generation of the amount are the same as in the case of a GST registered person.

• In case the supply of goods is coming from an unregistered person to a GST registered person or business. The GST registered company or person is required to ensure that all required compliance under the GST Act is met.

• Transporters are required to generate e-Waybill in case the supply of goods is taking place by railways, road or air, etc. and the supplier does carry any GST e way bill. To generate a GST compliant Eway bill, transporters are first required to register for a Transporter ID.

• GSTIN Number: Enter the recipient GSTIN number of

• Place of Delivery: Now mention the area pin code where goods are delivered.

• Invoice or Challan Number: The Invoice or Challan number against which the goods are being supplied.

• Value of Goods: Fill in the consignment value of the goods.

• HSN Code: Enter the HSN code of transported goods. For turnover of up to INR 5 crores, the first two digits of HSN code are required. If it exceeds INR 5 crores, the four digits of the HSN code needs to be mentioned.

• Reason for Transportation: The reason for transportation is pre-defined, and you need to select the most appropriate option from the list.

• Transport Document Number: This indicates either one of the Goods Receipt Number, Railway Receipt Number, Airway Bill Number or Bill of Lading Number.
   

In Part B of Form EWB 01, you need to mention the number of vehicles with transported goods. The transporter will file this in the common portal. An E-way bill is mandatory for businesses that deal in the movement of goods from one place to another. Hence business owners must know the importance of generating an eway bill for smooth operations. The same way at Bajaj Markets, we understand businesses and their requirements. With a business loan, you can get the financial assistance wherein you don’t have to pledge any security and can avail up to 30 lakhs with minimal documentation, quick approval and disbursal of loan. Hurry!! Download the Bajaj Markets App to apply for a business loan.