E-way bill generation surges to all-time high at 10.55 crore in August
Improved compliance along with strictness by filed formation led to e-way bill generation surged to all-time high at 10.54 crore in August, data from GSTN showed. This is the sixth time since the introduction of the e-way bill in 2018 and fourth successive time in the current fiscal when generation has crossed 10 crores in a month.
Although there is no straight co-relation between e-way bill generation and GST collection, the former could have some positive impact on collection. Tax collected for goods consumed and services availed in August will be known on October 1, when the government releases monthly data. E-way bill is one of the high frequency economic indicators and higher generation reflect betterment in the economy.
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.
