Business

E-Way Bill comes into force from today

meeting in February, a group of ministers headed by Bihar Deputy Chief Minister Sushil Modi recommended April 1 as the date for compulsory implementation

Another major reform, the Electronic Way (E-Way) Bill introduced under the Goods and Services Tax (GST) regime came into force across the country from Sunday.

The E-Way Bill, at present, applies to inter-state transportation of goods worth over Rs 50,000 through road, railways, airways and vessels.

The government sources said that for the intra-state movement of goods, the new system would be launched in two weeks’ time.

It need be mentioned that about 1.05 crore businesses have registered under the new GST regime.

The government however clarified that the validity period of e-way bill starts only after the e-way bill details are updated by the transporter for the first time.

The major initiative is aimed at government plugging possible evasion and increase revenues which have been under pressure.

In its meeting in February, a group of ministers headed by Bihar Deputy Chief Minister Sushil Modi recommended April 1 as the date for compulsory implementation of the system for inter-state goods movement.

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