New Delhi, Apr 6 (PTI) Industry body CII today welcomed the launch of the E-way Bill system for inter-state movement of goods under GST, saying it will pave the way for widening of the tax base, reduce logistics costs, and faster movement of goods.
Under the GST provisions, transporters are required to carry an electronic waybill when moving goods value exceeding Rs 50,000. E-way bill provisions have been implemented for inter-state movement of goods from April 1 to check tax evasion and boost revenues.
The major relief to industry and business is in hassle-free movement of goods across state borders under GST (Goods and Service Tax) by removing the state barriers, which is a milestone for improvement in ease of doing business, CII said.
It is expected to help the transporter who does not have to stop at checkpoints and generate challan while crossing the state border, it added.
For intra-state movement of goods, e-way bill will be applicable from June 1, 2018 in a phased manner.
Under the new rules if both exempted and taxable goods are moved, only the value of the taxable supply will be considered for the purpose of generating an e-way bill.
“This will provide relief to the industry, especially FMCG companies that move all kinds of goods together,” the industry body noted.
This is published unedited from the PTI feed.