Experts say the move will help boost Goods and Services Tax (GST) collections in August, as pending GST returns are expected to be filed.
Goods and Services Tax
The GST Network (GSTN) has said that taxpayers who have not filed GST returns for two months till June 2021 or the quarter of June 2021, can get e-way bill from August 15. will not be able to generate. Experts say the move will help boost Goods and Services Tax (GST) collections in August, as pending GST returns are expected to be filed.
Last year, the Central Board of Indirect Taxes and Customs (CBIC) suspended the moratorium on generation of electronic e-way bills for non-filers, giving compliance relief during the Covid pandemic.
Service will resume on EWB portal from August 15
GSTN told the taxpayers, the government has now decided to reinstate the ban on generation of e-way bills on the EWB portal for all taxpayers from August 15. In this way, after August 15, 2021, the system will check the returns filed and prohibit the generation of e-way bills, if necessary.
E-way bill record made in July
E-way bills issued under GST after the Goods and Services Tax (GST) collection have also set a record. In July, 6.4 crore e-way bills were generated, which is the second highest after April. A record 7.12 crore e-way bills were generated in April.
According to data from the Goods and Services Tax Network (GSTN), 17.4 per cent more e-way bills were generated in July as compared to June. In June, 54.6 million i.e. 5.46 crore e-way bills were generated. At the same time, 5.46 crore in June, 3.99 crore e-way bills were generated in May. Explain that an e-way bill is required for the transportation of goods worth more than Rs 50,000.
33% jump in GST collection
In the month of July, 1 lakh 16 thousand 393 crores came in the exchequer through Goods and Services Tax. It has increased by 33 percent as compared to July 2020. The GST collection in July 2020 was 87,422 crores. In this, CGST was 16,147 crores, SGST 21,418 crores and IGST 42,592 crores.
Relief to more than 5 crore GST taxpayers
Now Goods and Services Tax taxpayers with a turnover of more than Rs 5 crore will be able to self-certify their annual return and they will not need to get the mandatory audit certification from Chartered Accountants. .
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