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e-way bill system
April 30 , 2019
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- e-way bill is an electronic way document required to be carried by a person in charge of the transporting the goods.
- It should be generated when goods of the value of more than Rs. 50,000 are shipped.
- The Finance Ministry of India has introduced changes in the e-way bill system.
- The e-way bill must be raised before the goods are shipped.
- It should include details of the goods, their consignor, recipient and transporter.
- Failure to produce an e-way bill can attract a penalty of Rs 10,000 or amount of tax sought to be evaded whichever is higher.
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