E-way Bill Generation: New Rules for Businesses from March 1
By Rediff Money Desk, NEWDELHI Jan 06, 2024 10:48
Businesses with turnover above Rs 5 crore will need to include e-invoice details for B2B transactions when generating e-way bills from March 1. Learn more about the new GST rules.
New Delhi, Jan 6 (PTI) Businesses with turnover above Rs 5 crore will not be able to generate e-way bill without including e-invoice details for all B2B transaction from March 1.
Under the goods and services tax regime, e-way bills are required for inter-state transportation of goods valued over Rs 50,000.
The National Informatics Centre (NIC) said on analysis it was found that some of the taxpayers, who are eligible for e-invoicing, are generating e-way bills without linking with e-invoice for B2B (business to business) and B2E (business to exports) transactions.
In some of these cases, the invoice details entered separately under e-way bill and e-invoice are not matching with respect to the certain parameters. This is leading in mismatch in the e-way bill and e-invoice statements.
" to avoid such situations, e-way bill generation will not be allowed without e-invoice details from 1st March 2024. This is applicable for e-invoice enabled tax payers and for the transactions related to supplies under B2B and exports," the NIC informed GST taxpayers.
However, e-way bills for other transactions such as B2C and non-supplies will function as usual without any change, the NIC said.
Under the goods and services tax regime, e-way bills are required for inter-state transportation of goods valued over Rs 50,000.
The National Informatics Centre (NIC) said on analysis it was found that some of the taxpayers, who are eligible for e-invoicing, are generating e-way bills without linking with e-invoice for B2B (business to business) and B2E (business to exports) transactions.
In some of these cases, the invoice details entered separately under e-way bill and e-invoice are not matching with respect to the certain parameters. This is leading in mismatch in the e-way bill and e-invoice statements.
" to avoid such situations, e-way bill generation will not be allowed without e-invoice details from 1st March 2024. This is applicable for e-invoice enabled tax payers and for the transactions related to supplies under B2B and exports," the NIC informed GST taxpayers.
However, e-way bills for other transactions such as B2C and non-supplies will function as usual without any change, the NIC said.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 7.99 (+ 1.52)
- 58018780
- Mishtann Foods L
- 9.17 ( -5.17)
- 27555831
- Shree Securities
- 0.42 ( -6.67)
- 27309223
- AvanceTechnologies
- 0.90 ( -4.26)
- 25537567
- Rajnish Wellness
- 1.69 ( -2.87)
- 19267607
MORE NEWS
Akasa Air Pilot Concerns: Safety Issues Alleged
Akasa Air faces allegations of training and safety issues from a section of its pilots...
Pune Property Registrations Down 11% in...
Pune property registrations fell 11% year-on-year in November, despite strong demand,...
Maxivision Eye Hospitals Expands in Gujarat,...
Maxivision Super Specialty Eye Hospitals is expanding its presence in Gujarat with a Rs...