21 Jun E-way Bill Generation Hits 10.32 Crore in May, Second All-Time High
E-way bill generation in May reached 10.32 crore, marking the second-highest record. Typically, May does not see much activity, but the higher numbers can be attributed to increased demand for electronic items and cooling products.
According to GSTN data, this is the third time e-way bill generation has crossed the 10 crore mark since its introduction. The all-time high was recorded in March this year with 10.35 crore bills, while the previous second-highest was 10.03 crore in October last year. The rise in e-way bill generation is expected to positively impact GST collection.
An e-way bill is an electronic document generated on a portal, evidencing the movement of goods and indicating whether tax has been paid. As per Rule 138 of the CGST Rules, 2017, every registered person involved in the movement of goods worth more than ₹50,000 (or lower for intra-state movement) must generate an e-way bill.
Since last August, e-way bill generation has exceeded nine crore every month except November. During the 2023-24 fiscal year, seven out of 12 months saw over nine crore e-way bills generated, with two months surpassing the 10 crore mark. In the last three months (December, January, and February), more than 9.5 crore e-way bills were generated, with October reaching an all-time high of over 10 crore.
Several factors contribute to higher e-way bill generation. While e-way bills have long been part of the Indirect Tax space, under GST, their linkage with e-invoicing and enforcement by moving squads has brought unorganised movements and supplies under the GST net.
Experts suggest that higher e-way bill generation indicates increased consumption across various sectors and heightened economic activity, driving the need for transportation and logistics services. The sustained growth in e-way bill generation also points to the effectiveness of technology-driven scrutiny and compliance mechanisms by regulatory authorities.
Source: The Hindu Business Line
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