Ripplesadvisory Today News, E-Way Bill roll-out: Traders now have more time to prepare for new system
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A subtle silver lining to the postponing of E-Way bill roll-out is that traders will now have more time to prepare for the much-awaited system. Due to the technical glitches that crashed the e-way bill landing on 1 February, the same has been put on hold until any further notification from CBEC.
While the voluntary trials for e-way bills that began earlier in January are still continuing, only a handful of states have notified that their traders will now generate e-way bills on the common portal. The remaining states, on the other hand, have decided to wait for the full-proof e-way bill to come through.
The first few months of Goods and Services Tax (GST) also faced some hiccups. Either way, it will be unfair to expect a perfect e-way bill system in its first breakthrough appearance. The good news is that so far over two lakh e-way bills are being generated every day in the trial runs that began on 16 January and evidently, the mechanism is doing fairly well.
E-way bills are electronic way bills generated for movement of goods whether or not supply. The advent of a centralized system in e-way bills has standardized the document inspection procedure and brought the scattered steps on a common web-based platform while improving the efficiency in movement and widening tax revenue by preventing possible under-invoicing. And as GST entails making sure of every consignment above Rs 50,000 to be passed only upon being e-way bill-compliant, it will be somewhat difficult for the beginners to get to that point right away.
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