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Vehicles impounded for carrying goods without e-Way Bill

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The Punjab taxation department had, just a few days back, impounded 23 vehicles that were carrying goods worth lakhs of rupees without the mandatory Electronic Way Bill . The owner of the goods will have to shell out Rs 28 lakhs as tax and penalty. The e Way Bill has been made mandatory by the government for the transportation of goods worth more than Rs 50,000. The transportation may take place within a state (intra-state) or it may also take place from one state to another (inter-state). However, traders and businessmen are still trying to find out ways how they can evade the complexities of the Bill portal and thus avoid paying the appropriate taxes. Inspections It has been reported that after three days of this incident, the investigation wing of the tax department raided the six companies to whom the goods belonged on Monday. This action was overseen by the additional excise and taxation commissioner Kumar Saurav Raj. The inspections were conducted by
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Finally, Delhi joins the intra-state e Way Bill bandwagon

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  Delhi becomes the last among states and Union Territories to implement the intra-state e Way Bill for the transportation of goods. The central government had introduced the e-Way Bill that is to be generated for transport of goods which are valued over Rs 50,000. This Bill is required to be generated if the goods are being transported within the same state or even if they are ferried to another state. A notification has been released by Commissioner State GST, Delhi, dated 15.06.2018, which states that all B2B transactions above Rs 1 lakh will have to be accompanied by the intra-state Electronic Way Bill. However, the Digital Bill is not required for B2C transactions of any value. This ruling comes into effect from 16.06.2018. Businessmen and traders have often complained about how their businesses might suffer after the implementation of the e Way Bill. Keeping their concerns in mind, different states have come up with various sops to pacify them. Some stat
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Traders demand ‘One Nation, One Tax’ to be implemented in letter and spirit

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Trade leaders demanded that the government should take necessary steps to ensure that Prime Minister Narendra Modi’s much-touted slogan of ‘ One Nation, One Tax ’ is implemented properly. They raised this demand after the conclusion of the National Conference of Confederation of All India Traders (CAIT) that took place in Ahmedabad. The CAIT feels that the GST has been diluted due to the haphazard implementation of the Electronic Way Bill. The National President of CAIT, BC Bharatia, said in an interview that the deviations from the original plan occurred due to the way different states implemented the e-Way Bill (especially the intra-state e-Way Bill). The inter-state e Way Bill was introduced on the 1st of April for the entire country. On the other hand, the intra-state Bill was implemented in phases from the 15th of April and finally concluded on the 3rd of June. The e Way Bill system requires a trader, supplier or transporter of goods to generate Digital
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Sensex touches 35,000; result of good GST collections from e Way Bill

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In what seemed to be a good day for the stock market, the Bombay Stock Exchange’s benchmark index Sensex gained 300 points on Monday when trading started. It reached the coveted benchmark of 35,000. The gains were primarily possible due to the buying witnessed across banking and auto shares. The NSE Nifty also gained 74 points to reach 10,770 in early deals. Furthermore, 36 stocks listed in the 50-scrip index were trading with advances. The companies that gained the most due to this positive climate were Dr. Reddy’s Laboratories, HPCL, Tata Motors, HDFC Bank and IndusInd Bank. They all traded at 1.6% to 2.4 % higher values. According to Finance Secretary Hasmukh Adhia, the total amount collected in May 2018 was Rs 94,016 crore. This amount is higher than the monthly average collection of Rs 89,885 crore in 2017-18. According to him, this increase in revenue is in part due to the introduction of the e-Way Bill that has ensured greater tax compliance. He also
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Tax collection sees improvement after e-Way Bill implementation

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The tax collected by the government for the month of April has been calculated to be Rs 94,016 crore. This is a 4.5% hike in comparison to the monthly average of the revenue collected in the last fiscal year. This spike in revenue has been, in part, due to the introduction of the e Way Bill system which has led to increased compliance and is believed to be an effective anti-evasion measure. Still behind target However, this collection still fell short of the Centre’s budget target for central GST revenue. The trend CGST revenue for 2018-19 is viewed to be SGST collections plus half the integrated GST or IGST pool. This is because the CGST and State GST(SGST) revenue is deemed to be approximately equal in the absence of the transitional credit that hit CGST collections until late last year. For April, the CGST collected was Rs 28,797 crore. However, if we assume that half of the balance IGST collected for the month also goes to the Centre, the CGST collection for the month m
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Rajasthan generates more than 1 lakh e-Way Bills for the first time

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Mostly effectuated by the intra-state transport of goods, more than one lakh e-Way Bills have been generated in Rajasthan for the first time. In Rajasthan, the inter-state e-Way Bill system was implemented on the 1st of April while the intra-state Bill had been introduced on the 20th of May. According to Alok Gupta, secretary, commercial taxes, “Out of the total 1.02 lakh bills, intra-state contributed 56,000, while the rest came from interstate.” He also commented on the ease of traders and transporters who use the system and said, “Now, the system is operating smoothly as the number of clarifications sought by the dealers and transporters has come down significantly.” The industry in the state, however, demands that there is a requirement for relaxation of rules for transporting goods within municipalities. Suresh Agarwal, president of the Federation of Rajasthan Trade and Industry has said, “We now have to generate bills even to move goods within th
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Workshop on e-Way Bill in Dimapur

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The e-Way Bill is arguably the most important by-product of the GST regime. This is an electronically generated document that is mandatory to be generated for the purpose of transportation of goods from one place to another. The valuation of the goods should be more than Rs 50,000. In addition, this document is required for both inter-state and intra-state transportation of goods. The implementation of the Electronic Way Bill has received both praise and criticism. However, different states are gearing up for the implementation of the bill. It has been reported that with the e Way Bill becoming compulsory from the 1st of June, the CII Nagaland Branch is planning to organize a workshop on the Digital e-Way Bill at Dimapur on the 23rd of June. The workshop is aimed at providing a clearer picture of the value of goods that are being transported. This will help to bring all informal transactions within the scope of the formal economy. Electronic Way Bill to help tra
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