E-way bill closed FY25 with all-time high generation of 12 cr plus
Indicating very high year-end business activities, e-way bill (EWB) generation surged 20 per cent high in March to reach 12 crore plus for the first time since its introduction in 2018. Experts express cautious optimism about impact of all-time high e-way bill generation.
Data pertaining to GST collection in April will be made public on May 1. Since the introduction of GST in 2017, April collections always set a new record. While collections crossed Rs.1 lakh crore for the first time in April 2018, it set a new high of Rs.1.13 lakh crore in April 2019. The Covid-19 pandemic affected collections in April 2020, but in April 2021, it went to a record Rs.1.41 lakh crore. April 2022 saw a collection of Rs.1.68 lakh crore followed by new all time high of Rs.1.87 lakh crore and Rs.2.10 lakh crore in April 2023 and April 2024, respectively.
An e-way bill is an electronic document generated on a portal, evidencing the movement of goods. It also indicates whether tax has been paid for the moving goods. As per Rule 138 of the CGST Rules, 2017, every registered person involved in the movement of goods (which may not necessarily be on account of supply) of consignment value of more than Rs.50,000 (can be lower for intra-state movement) is required to generate an e-way bill.
Growth drivers
Explaining the reasons behind record EWB in March, Amit Baid, Head of tax at BTG Advaya, said it could be driven by improved compliance as more businesses are opting to report transactions formally. Also, with March being the financial year-end, it often sees a natural spike as companies rush to close books and clear inventories even when actual production or consumption hasn’t risen at the same pace. “Better compliance and reporting are important wins in themselves and lay the foundation for more sustainable revenue growth,” he said.
