[17:21, 10/9/2024] Nitin Mittal: What is an E-Way Bill?
[17:21, 10/9/2024] Meta AI: An E-Way Bill is an electronic document required under the Goods and Services Tax (GST) regime in India:

What is an E-Way Bill?

E-Way Bill is an electronic waybill generated on the GST portal for movement of goods worth over ₹50,000.

Purpose of E-Way Bill

1. Monitor goods movement.
2. Prevent tax evasion.
3. Simplify tax compliance.

Key Components of E-Way Bill

1. GSTIN of supplier and recipient.
2. Invoice details.
3. Transportation details.
4. Goods details.

Types of E-Way Bills

1. Normal E-Way Bill.
2. Simplified E-Way Bill.

Who Generates E-Way Bill?

1. Supplier.
2. Recipient.
3. Transporter.

E-Way Bill Generation Process

1. Register on GST portal.
2. Fill Part A (supplier details).
3. Fill Part B (transportation details).
4. Generate E-Way Bill.

E-Way Bill Validity

1. Distance-based validity.
2. Value-based validity.

Consequences of Non-Compliance

1. Penalty.
2. Interest.
3. Seizure of goods.

Benefits of E-Way Bill

1. Reduced paperwork.
2. Increased efficiency.
3. Better tax compliance.

References

1. GST Act, 2017.
2. GST Rules, 2017.
3. CBIC notifications.

Additional Resources

1. GST portal (gst.gov.in).
2. E-Way Bill portal (ewaybill.nic.in).
3. CBIC website (cbic.gov.in).