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PIN code a must for e-way bill
Why in the news ?
- The GST Network has made it mandatory for businesses and transporters to mention PIN codes of places of loading and unloading of consignments.
More in the news
- PIN codes will help in calculating the correct distance and determine the validity of the e-way bill.
- It is used by businesses to transport goods worth over Rs 50,000 both within and outside a State
- So far, businesses and transporters are required to broadly mention the distance and place of loading and unloading of consignments for generating e-way bill.
- As the validity of the e-way bill depends upon the distance mentioned by the businesses, it was feared that this could lead to tax evasion by transporters making multiple trips on the basis of same e-way bill.
- The validity of the e-way bill is one day if the distance to be covered is less than 100 km.
- For every additional 100 kms or part thereof, the validity of the bill goes up by one day.
e-way bill
- E-Way Bill is an electronic way bill for movement of goods which can be generated on the e-Way Bill Portal.
- Transport of goods of more than Rs 50,000 in value cannot be made by a registered person without an e-way bill.
- E-way bill can also be generated or cancelled through SMS.
- When an e-way bill is generated a unique e-way bill number (EBN) is allocated and is available to the supplier, recipient, and the transporter.
- An ‘e-way bill’ system offers the technological framework to track intra-state as well as inter-state movements of goods of value exceeding Rs 50,000.
Source
The Hindu.