NEW DELHI: The government expects items and services and products tax (GST) collections to upward push via 20-25 according to cent after the advent of digital approach (e-way) bills, which will monitor the motion of consignments across vans and help test income leakage.
Tax officers consider some companies are on a tax vacation because the advent of GST. That's as a result of underneath GST, partial evasion is almost unattainable. You pay either 0 according to cent or 100 according to cent. "We know of businesses that have found a way to stay out of the 100 per cent tax net. E-way bill is one way to get them into the system. States that have moved to e-way bill for VAT had seen 20-25 per cent increase in annual tax collections for several years. We expect same to happen with national e-way implementation," mentioned a senior government legit.
Already, 17 states have e-way bills in some form, which includes Uttar Pradesh, Uttarakhand and several other jap states. But there are 14, including Maharashtra and Madhya Pradesh, which will move to the new regime from February. Some of the states that have already got e-way bills monitor motion of products within in addition to outside the state. While e-way invoice was to kick in with the release of GST in July, the federal government had deferred the rollout until the system was in place.
The new nationwide e-way invoice system will likely be in a position from January 1 and corporations can start producing the digital tracking software from January 15 and it will be compulsory from February 1 with the intra-state bills changing into mandatory from June. This will do away with the state-to-state permutations in e-way bills.
Currently, a tribulation run is underway in Karnataka and officers mentioned that the system is operating completely with the state producing 1.1 lakh e-way bills day by day. Following a countrywide rollout, the federal government expects round 40 lakh e-way bills to be generated every day, of which 15-16 lakh, or round 40 according to cent, is supposed for inter-state motion.
Officials mentioned that almost 50 according to cent of the products that make up the consumer value index will likely be exempted as and most effective items with a value of Rs 50,000 need to generate it. In addition, delivery of products in non-motorised cars reminiscent of handcarts additionally shouldn't have to conform to the requirement.
Officials mentioned, initially, vans will likely be bodily inspected for carrying e-way invoice once or more all the way through their adventure. "Eventually, we would like to do away with the system of physical check. We could build e-way bill details in RFID tags. If businessmen fill their e-way bills properly, their GSTR-1 will get filled automatically. A buyer, seller or transporter can prepare the e-way bill," mentioned an officer.
Tax officers consider some companies are on a tax vacation because the advent of GST. That's as a result of underneath GST, partial evasion is almost unattainable. You pay either 0 according to cent or 100 according to cent. "We know of businesses that have found a way to stay out of the 100 per cent tax net. E-way bill is one way to get them into the system. States that have moved to e-way bill for VAT had seen 20-25 per cent increase in annual tax collections for several years. We expect same to happen with national e-way implementation," mentioned a senior government legit.
Already, 17 states have e-way bills in some form, which includes Uttar Pradesh, Uttarakhand and several other jap states. But there are 14, including Maharashtra and Madhya Pradesh, which will move to the new regime from February. Some of the states that have already got e-way bills monitor motion of products within in addition to outside the state. While e-way invoice was to kick in with the release of GST in July, the federal government had deferred the rollout until the system was in place.
The new nationwide e-way invoice system will likely be in a position from January 1 and corporations can start producing the digital tracking software from January 15 and it will be compulsory from February 1 with the intra-state bills changing into mandatory from June. This will do away with the state-to-state permutations in e-way bills.
Currently, a tribulation run is underway in Karnataka and officers mentioned that the system is operating completely with the state producing 1.1 lakh e-way bills day by day. Following a countrywide rollout, the federal government expects round 40 lakh e-way bills to be generated every day, of which 15-16 lakh, or round 40 according to cent, is supposed for inter-state motion.
Officials mentioned that almost 50 according to cent of the products that make up the consumer value index will likely be exempted as and most effective items with a value of Rs 50,000 need to generate it. In addition, delivery of products in non-motorised cars reminiscent of handcarts additionally shouldn't have to conform to the requirement.
Officials mentioned, initially, vans will likely be bodily inspected for carrying e-way invoice once or more all the way through their adventure. "Eventually, we would like to do away with the system of physical check. We could build e-way bill details in RFID tags. If businessmen fill their e-way bills properly, their GSTR-1 will get filled automatically. A buyer, seller or transporter can prepare the e-way bill," mentioned an officer.
E-way bills may boost GST revenue: Tax officials
![E-way bills may boost GST revenue: Tax officials]()
Reviewed by Kailash
on
December 30, 2017
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