E-way bill to be implemented soon on companies registered under GST
CBIC Chairman Vivek Johri said that e-way bill is a revolutionary system. No other country exists that has adopted it. We will also implement this system gradually in a phased manner.
Companies with annual turnover of more than Rs 5 crore registered under GST will soon be made mandatory to generate e-way bill for B2B transactions.
The GST Council headed by Finance Minister Nirmala Sitharaman had decided to implement this e-way bill rule in a phased manner. Vivek Johri, Chairman, Central Board of Indirect Taxes and Customs said on Thursday that we have introduced e-way bill with a very high limit in terms of annual turnover.
Soon it will be rolled out on B2B transactions for all taxpayers having an annual turnover of more than Rs 5 crore. PLC/GT