With today’s updates, 20 July, the total generated E-way invoice is 35.5M+ and it is extremely higher than the previous month.
Know what Eway Invoice is? What if you don’t have one? Who needed it?
When the GST was introduced to India, a new mechanism was designed to show the goods transportation status known as the E-way bill. Whenever the goods are transported out of state or inside the state over the limit of INR 50,000 E-way Bill is generated as a transit invoice. The vehicle owner should have an E-way bill to save himself from a 50% penalty.
The E-way bill has become a significant factor in the goods transportation business. The E-way bill is released every month to show the economy of the goods transportation business. On 20th July, a new E-way bill was generated, which shows the tremendous growth in invoice generation as compared to June Month.
The daily average of E-way Invoice in June – 1.82 M.
The daily average of E-way Invoice in July- 1.97 M.
In India, it is legally advised to the vehicle owner, who should always carry an invoice, it contains the data of tax amount, for the goods with respect to its’ price. Whenever an E-way bill is generated it counts in records. To predict the contribution amount coming from the goods transportation sector measured by the Eway invoice.
If any vehicle owner tries to transport the goods in a hidden way it is considered an illegal act and for this, you may be punished or fined. Please comply with the rules made by the Indian government for goods transportation services.
The transportation details should be verified by the officer. If the goods do not reach the destination and also the E-way bill is not verified by any authority it can be cancelled by the recipient.