Skip to main content

Intra-state e-way bill rolled out in five states from Sunday

 Intra-state e-way bill rolled out in five states from Sunday
From midnight till 5 pm on Sunday, about 0.24 million e-way bill (both inter state and intra-state) was generated on the portal, an official said
E-way bill requirement for intra-state movement of goods has been rolled out in five states from Sunday.The bill for inter-state movement of goods valued over Rs 50,000 was rolled out on April 1. The Goods and Services Council had decided on a staggered roll out of intra-state e-way bill starting with five states — Gujarat, Uttar Pradesh, Andhra Pradesh, Telangana and Kerala.
From midnight till 5 pm on Sunday, about 0.24 million e-way bill (both inter state and intra-state) was generated on the portal, an official said.The official said there was not much increase in the generation of bill on Sunday on account of intra-state roll out.On the day of inter-state roll out of e-way bill on April 1, about 0.28 million such bills were generated in 24 hours
The official said one reason for not much increase in the number could be because Gujarat has mandated e-way bill for intra-state movement for only 19 items. These items include edible oil, oil cakes, ceramic tiles, iron and steel, processed tobacco, gutkha, cigarette, cement, timber products, tea, marble and granite.
 E-way bills hit truck dispatches; inter-state movement down 15%
Since the roll out of e-way bill for inter-state movement of goods from April 1, more than 9.1 million bills have been generated till Saturday. Karnataka is the only state which had rolled out e-way bill system for intra-state movement of goods from April 1.Touted as an anti-evasion measure and would help boost tax collections by clamping down on trade that currently happens on cash basis, the e-way bill provision of the goods and services tax (GST) was first introduced on February 1.
However, its implementation was put on hold after the system developed glitches in generating permits. With several states also starting to generate intra-state e-way bills on the portal, the system developed a snag.Since then, the platform has been made more robust so that it can handle load of as many as 75 lakh inter-state e-way bills daily without any glitch.
The Business Standard, New Delhi, 16th April 2018

Comments

Popular posts from this blog

Credit card spending growth declines on RBI gaze, stress build-up

  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the...

SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv

  The Reserve Bank of India’s Deputy Governor Swaminathan J on Friday instructed the directors of small finance banks (SFBs) to be vigilant and proactive in identifying emerging risks in the sector.Speaking at a conference for directors on the boards of SFBs, Swaminathan highlighted the role of governance in guiding SFBs towards sustainable growth with stability. He also emphasised the importance of sustainable business models.Additionally, he highlighted the need for strengthening cybersecurity to protect the entities against digital threats and urged for a stronger focus on financial inclusion, customer service, and grievance redressal to ensure a broader reach of banking services.Executive Directors S C Murmu, Rohit Jain, and R L K Rao, along with other senior officials representing the Supervision, Regulation, and Enforcement Departments of the RBI, also participated in the conference.   -  Business Standard  30 th  September, 2024

Brigade Hotel Ventures files draft papers with Sebi for Rs 900 crore IPO

  Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO).The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP).Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures Ltd.Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes.The company may raise up to Rs 180 crore through a Pre-IPO Placement.   If the placement is undertaken, the issue size will be reduced.Brigade Hotel Ventures Ltd is a wholly-owned subsidiary of Brigade Enterprises ...