On 1st April 2018, the new and upgraded version of the way bill has been introduced as E-Way Bill (Electronic Way Bill). The transporter, the Supplier or the recipient can generate or cancel by site to site integration/SMS or through Android App an Electronic Way Bill for the movement of goods as per Commercial Documents accompanying the goods. It is generated with a unique bill number and for generating it, the requisitioner has to mention their GST number.
According to the GST authorities, they will start matching details given in the GSTR 1 (Goods and Service Return) in form number 1 with the details in the mentioned in E-Way Bill. If there is a mismatch, a notice will be served on the basis of return filed during August and December 2017. According to the response, a decision will be taken how much tax and penalty needs to be paid by the party concerned. All the GST assesses can fill GSTR 1 either monthly or on quarterly basis when the value of goods exceeds ₹ 50,000.
An option has been given on the E-way bill portal to generate reports for a particular tax period from E-way bill portal and match with tax invoices for outward supply and inward supply/delivery challan. Information about e-way bills, along with the transactions captured in GSTR1, will make it easy to spot mismatches in certain cases where invoice has not been reported in GST returns filed by the taxpayer or where the taxpayer fails to file his returns or furnishes wrong details.
“In such cases, notice may be served by the authorities demanding clarifications for difference in tax amounts along with penalties. The said measures were adopted by the VAT authorities in the erstwhile regime also. Further in extreme cases, confiscation of goods, along with penalties may be imposed by the authorities,”.
There is a capacity to generate 70 Lakh of E-Way Bill every day GSTN claims. According to recent information on an average 11 to 13 lakh of E-Way Bill is being generated every day. Mostly the E-Way bills are related to inter-state trade which is about three-fourths and the remaining one-fourth is for intra-state.