GST: CBEC proposes eway bill for goods worth Rs 50k

Moving goods worth more than Rs 50,000 under goods and services tax(GST) will require prior online registration of the consignment and securing an 'eway-bill´ that tax officials can inspect any time during the transit tocheck tax evasion. The Central Board of Excise and Customs has issued draft rules on Electronic Way( eway) bill that require registered entities to furnish, in a prescribed format, GST Network(GSTN) website information relating to any goods worth more than Rs 50,000 they intend to move within a state or outside.GSTN will generate eway bills that will be valid for 115 days, depending on distance to be travelled — one day being for 100 kilometres and 15 days for more than 1,000 km transit.

Business Standard, New-delhi 15th April 2017

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RBI deputy governor cautions fintech platform lenders on privacy concerns during loan recovery

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