Page 102 - MA - May 2017

GST

GST

Electronic-Way Bill

Major Hurdle in Ease of Doing Business

D

raft rules were put on the public
Details furnished in Part A of FORM GST INS-01
domain. Undoubtedly concept is very good but the way  of goods.
it has been drafted, it will defeat the purpose of “Ease of will be available for furnishing details in GSTR-1
Doing Business”. The salient features of draft are given  E-way bill can be generated and carried even if
below: value of the consignment is less than Rs.50,000/-
E-way bill to be generated for any movement of goods, (optional)
whether by own transport or any modes of transport  New E-way bill needs to be generated if goods are
irrespective of tax invoice against taxable supplies or transferred from one conveyance to another in
Bill of supply for exempted goods / non-taxable goods or the course of transit by the transporter
delivery challan without invoice for movement of goods  Consolidated e-way bill in FORM GST INS-02 to
from one location to another location within the state be generated by the Transporter when multiple
of the same entity or delivery challan for job work. It consignments are intended to be transported in
should be generated in Part A and endorsed in Part B one conveyance
by the transporter / recipient of supplier as a consignee.  SMS facility will be available for generation and
Of course, it is for the movement of goods valued more cancellation of e-way bill
than Rs 50,000/-. However, valuation will always  Recipient of goods to confirm his acceptance /
require to be determined before movement of the goods. rejection on common portal within 72 hours,
failing which it will be assumed to be accepted
When to be generated  Cancellation of e-way bill is possible within 24
 Movement of goods by registered person hours of generation, except when been verified
(including inward supply from unregistered in transit
person) having value exceeding Rs.50,000/- to
be updated electronically in Manner of issue of E-way Bill
Part A of FORM GST INS-01 on  E-way will be generated in FORM GST INS-1 with a
common portal and generation unique e-way bill number (EBN) as under:
of e-way bill before movement

CMA A. B. Nawal
Chairman
Taxation Committee
Institute of Cost Accountants of India

102 The Management Accountant l May 2017 www.icmai.in