E-way bill generation for goods transportation has taken pace in July, which indicates raise in economic recovery after the impact of the second Covid wave.
During 1st July 1 and 11th July, as many as 2.12 crore e-way bills were generated. The average daily e-way bill generation stood at 19.24 lakh, 5.6 percent higher than the average for June and 49 percent higher than the May-level. Higher e-way bill generation will reflect in goods and service tax (GST) revenues.
Gross GST collections, after remaining above Rs 1-lakh-crore mark for eight months in a row, came in at Rs 92,849 crore in June (May transactions), reflects the blow to the economy from a localised lockdown.
However, after reduction in Covid-19 cases and easing of the lockdowns, e-way bills generation by businesses rose to 5.5 crore in June, from 3.99 crore in May, indicating a smart recovery of trade and business. About 5.9 crore e-way bills were generated in April.