TECHNICAL UNDERSTANDING OF E-WAY BILLS.

-
1. If Supply is interstate(in another state) E-way Bill required?
     Yes, In Interstate transfer of Goods,.,E-way Bill is ALWAYS REQUIRED, even if value of                  goods is Less Than Rs. 50,000

2. What about intra-state transfer of goods?
    E-way bill is required only if VALUE OF GOODS>Rs. 50,000  if value < 50,000 NO E-WAY              BILL.

3. When E-Way Bill is NOT REQUIRED???-But One Can generate E way At Option.
  •      If  goods are falling in Specific exemption Cases Under Rule 138 (Separate blog related to         such goods will be made)
  •      If  Registered Supplier is not making movement of goods i.e recipient of goods is                 transferring goods in his own behalf and Recipient is UNKNOWN i.e                                   UNREGISTERED even if value of goods> Rs. 50000 only if intra-state. 
  •      Goods being transported on NON-MOTORIZED VEHICLE i.e On Rickshaw
  •      If Goods Transported from:
                            Port/Airport/Land Custom Station
                                          To
                            Inland Container Depot/Container Freight Station
  •      If Both Seller and buyer is unregistered and 
                    value of goods is less than Rs. 50,000-No E way bill 
                  
                BUT If Value>Rs 50,000 then transporter will generate E-way bill.
  •      If There is multiple Consignments in one vehicle
                     and individual value < Rs. 50,000     Total Value < Rs. 50,000== NO E WAY BILL
                                        
                     IF TOTAL VALUE> Rs. 50,000 transporter Generate CONSOLIDATED E-WAY                         Bill.  

4.  WHO IS REQUIRED TO GENERATE E WAY BILL??
     Always registered person have to generate E Way Bill
     If both the parties are registered then who is transporting the goods will generate it
             i) Registered seller transporting goods to Registered buyer= seller generate E way bill

             ii) Registered Seller sells goods to unregistered buyer
                  but
                  goods are transporting by Unregistered buyer
                  Then Registered seller have to generate E Way Bill
                   Bcoz always registered person have to generate E Way Bill

     If NO ONE IS REGISTERED- As we discussed above then transporter will generate E Way       Bill if value > Rs. 50,000
         
5. WHAT IS THE ROLE OF GTA(GOODS TRANSPORT AGENCY) in E WAY BILL??
    Sometimes, goods are not transporting by seller and buyer on their own behalf.
    Seller HANDED OVER goods to GTA to transfer goods to buyer
    In that case, GTA have to fill information of transportation in Particular Forms.
                     

Comments

Post a Comment

Popular posts from this blog

INTEREST ON "Housing Loan VS Loan Against Property" + Tax Planning/Benefits.

-
Loan Against Property(LAP)  1. LAP is a loan which is given against the property. 2. Its is a secured loan where your property whether residential or commercial property is                        MORTGAGED and you get loan against it. 3. Here person already owns a property and he is taking loan against it. 4. Usage of loan can be for any other purpose as the borrower wishes. 5. Lending limit is usually 50% to 60% of the market value of the property.           Hence there is no upper limit of LAP, usually personal loans wont go beyond 10 to 15 Lacs. 6.  Interest on LAP : As the loan is already secured, hence the interest rates on LAP is usually on          the  lower side as compared to the personal loan. 7. TAX BENEFITS : As the borrower has mortgage his property hence NO TAX  BENEFITS           under section 80C and Se...
Read more

GST E WAY BILL- PART 2 GENERATION OF E WAY BILL

-
GENERATION OF E-WAY BILL: 1. PART A OF EWB- If Value of Goods> 50,000.,.then this part to be furnish by the person who is causing movement of goods 2. PART B OF EWB- It is to be furnish(fill) by person who causes movement of goods i.e sender/reciever when they are transporting on their own behalf.  GENERATION OF E WAY BILL BY TRANSPORTER THIS HAPPENS Only when E way bill not generated by Sender. BUT still in this case also Sender(i.e registered person) have to fill part A & B of EWB. After receiving goods transporter generate EWB on the basis of part A & Part B of EWB. AUTO POPULATED E-WAY BILL Registered person issued Invoice in GST INV-1  upload invoice on common portal generate Invoice Reference No. and same no. is valid for 30 days Here in this case no need to fill part A of EWB.,.it is auto populated on Common portal on the basis of GST INV 1 Then E way bill Number is generated and same shall be made available to sender/reciever/trans...
Read more

IS GST APPLY WHEN SUBSIDY IS LINKED TO SUPPLY/PRICE???

-
Section 15 of CGST Act, specifically provides that TRANSACTION VALUE   SHALL INCLUDE items which are specified in Clauses (a) to (e) Clause (e) : describes subsidy provided in any form or manner                     linked to the supply (Excluding Government Subsidy)                     will also be included in Transaction Value. Here in this clause: nothing is mentioned about who is providing the subsidy. Hence,subsidy provided  by any Person in any FORM             it shall also be included in transaction value. IMPORTANT POINT IS: Subsidy shud be directly linked to the price. EXAMPLE 1 : What about Gas Subsidy as such subsidy is also related to supply of GAS                                       CYLINDERS?? The company is making...
Read more