Fastag data integrated with E-way bill system:
E-Way Bill System under GST regime has achieved a new milestone of generation of 7.12 Crores E-way Bills in the month of March 2021. This is the highest number of e-way bills generated in any month during last three years’ journey of E-Way Bill system. Similarly, on 24th March 2021, 27.86 Lakh E-Way Bills have been generated which is the highest in a day in last three years. A total of 180.34 Crores of e-Way Bills have been generated in last 3 years.
E-Way Bill needs to be generated for the movement of goods from one place to another, having value more than Rs 50,000/-. This rules might change when movement is made within the same state. In Rajasthan this limit is Rs. 1 lakh.
Recently, the Fastag data has been integrated with the e-way bill system. On a daily average, 24 Lakh Fastag transactions from 826 toll plazas, related to commercial vehicles are exchanged between NPCI/NHA and NIC systems. These details will help the GST officers to track the movement of e-waybills using the new analytical reports.
Further this Fastag data also helps to track whether the vehicle mentioned in e-way bill has actually reached destination or not and create various other reports.
To read more CLICK HERE.
E-invoicing growth:
GST e-invoice system, the game changer in the GST system, has successfully completed journey of six months. During this period more than 39.81 Crores e-invoices have been generated by 88,000+ suppliers.
E-invoice system was launched on 1st Oct 2020 for the tax payers whose annual aggregate turnover is more than Rs 500 Crores and subsequently on 1st Jan 2021, the tax payers whose annual aggregate turnover is between Rs. 100 Crores and Rs. 500 Crores have been enabled. From 1st April 2021, as per the government order, tax payers whose annual aggregate turnover is between Rs. 50 Crores and Rs. 100 Crores are mandated to generate e-invoice from the portal.
To read more on E-invoicing growth CLICK HERE.
