Daily E-Way Bill Generation Falls During November

Daily e-way bill generation for goods transportation under the goods and services tax (GST) system has been recorded at 18.8 lakh for the first 21 days of November. It reflects decrease of demand after festival season, as it is 17% lower than the daily average for the first 24 days of October.
Between 1st and 21st November, around 3.95 crore e-way bills were generated. While, the daily average for the first 24 days of October was 22.68 lakh, 3.8% higher than the daily average for the first 26 days of September.
E-way bill stood at a record 7.35 crore for October, the highest monthly data since the indirect tax regime was rolled out in July 2017. It reflected an upswing in economic activities in the festival season and improved compliance.
Higher e-way bills generation is reflected in higher GST revenues. GST collections came in at Rs 1.17 lakh crore in September reflecting a sustained pick-up in trade and commerce. It stood at Rs 1.3 lakh crore in October, the second-highest mop-up in the history of the comprehensive indirect tax that was launched.

Knowledge Update

GoM’s to Review raising GST slab of 5% to 7% and 18% to 20%

Leave a Reply

Your email address will not be published.