Ebay bill is related to?
VerifiedAnswer: GST goods transport
Explanation:
An E-way bill (Electronic Way Bill) is a digital document required under the Goods and Services Tax (GST) system in India for the movement of goods worth more than ₹50,000. This electronic document serves as evidence that the goods being transported have complied with GST regulations and contains essential details about the consignment, consignor, and consignee.
The E-way bill system was introduced to ensure smooth transportation of goods across state borders and to prevent tax evasion. When goods are moved from one place to another, whether within the same state or across different states, the person in charge of the conveyance must carry this document. It acts as a permit that validates the movement of goods and helps tax authorities track the supply chain efficiently.
Key features of the E-way bill include a unique 12-digit identification number generated electronically on the GST portal. This number contains crucial information such as details of the supplier, recipient, transporter, and the goods being moved. The bill also specifies the vehicle number, transportation mode, and the distance to be covered during transit.
The validity period of an E-way bill depends on the distance the goods need to travel. For distances up to 100 kilometers, the bill remains valid for one day. For every additional 100 kilometers or part thereof, one additional day is added to the validity period. This ensures that goods reach their destination within the stipulated timeframe and prevents misuse of the system.
Businesses engaged in the supply of goods must generate E-way bills for various scenarios including sales, purchases, returns, transfers between branches, and job work. The system covers both registered and unregistered suppliers, making it comprehensive for all types of commercial goods movement. Transporters can also generate E-way bills on behalf of suppliers if required.
The implementation of the E-way bill system has significantly streamlined goods transportation under the GST framework. It has reduced paperwork, minimized human intervention at checkpoints, and created a digital trail for tax authorities to monitor goods movement effectively. This electronic system represents a major step toward digitization in India's tax administration and supports the government's vision of a unified national market.
