Why in the news?
- According to the Ministry of Electronics and IT, the E-Way Bill System under GST regime has achieved a new milestone of generation of 7.12 Crores E-way Bills in the month of March 2021.
- This is the highest number of e-way bills generated in any month during last three years’ journey of E-Way Bill system. Similarly, on 24th March 2021, 27.86 Lakh E-Way Bills have been generated which is the highest in a day in last three years. A total of 180.34 Crores of e-Way Bills have been generated in last 3 years.
What is an E-Way Bill system?
- E-Way Bill system was launched by National Informatics Centre (NIC) as per the directions of the GST Council on 1st April 2018.
- The roll out of e-way bill system took place in phased manner from 1st April 2018 to 16th June 2018. E-Way Bill system has maintained high availability in last three years.
- E-Way Bill needs to be generated for the movement of goods from one place to another, having value more than Rs 50,000/-.
- This has replaced the need of e-way bill of multiple states with one e-way bill.
- It has helped in reducing the transport time in movement of the goods. It has facilitated removal of the static check posts at the state borders and improved the tax compliance and collection of tax.
- The system provided number of reports to the government departments to facilitate monitoring of the movement of essential commodities and medical supplies in different parts of the country, during lockdown necessitated by COVID-19 pandemic.
