GST Rules Change: Big news! There will be a big change in GST rules on March 1, without this e-way bill will not be able to be generated.

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Featured Personal Finance GST Rules Change: Big news! There will be a big change in GST rules on March 1, without this e-way bill will not be able to be generated. By Shyamu Maurya January 7, 2024 0 1 Share Facebook Twitter Pinterest WhatsApp Telegram GST Rules Change: Big news! There will be a big change in GST rules on March 1, without this e-way bill will not be able to be generated. e-Way Bills: Under the Goods and Services Tax (GST) system, it is necessary to have an e-Way Bill to move goods worth more than Rs 50,000 from one state to another.

e-Way Bills: From March 1, businesses with a turnover of more than Rs 5 crore will not be able to issue e-way bills without providing e-invoice for all business transactions. Under the Goods and Services Tax (GST) system, it is necessary to have an e-Way Bill to move goods worth more than Rs 50,000 from one state to another. National Informatics Center (NIC), based on analysis, has found that some eligible taxpayers for e-invoice are not using e-way bills for B2B (firm to firm) and B2E (companies to exporters) transactions.

They are making it without linking it to e-challan. Mismatch between e-way bill and e-invoice statement In some of these cases, the e-way bill and the challan statement filed separately under e-invoice are not matching in some parameters. Due to this, there is no matching between e-way bill and e-invoice statement.

NIC told GST taxpayers that to avoid such situations, generation of e-way bill without e-challan statement will not be allowed from March 1, 2024. This e-invoice is applicable for eligible taxpayers and transactions related to supplies under trade and export. However, NIC has clarified that e-way bill for other transactions involving customers or non-supplies will continue as before.

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