: Govt extends Eway bill validity to April 30 #FinanceIndia #StockMarketNEWS Govt extends E-way bill validity to April 30 New Delhi, Apr 4 (KNN) The government has extended the validity of e-way bills

@StockMarketNEWS Thu 09 Apr, 2020

Posted in: #FinanceIndia #StockMarketNEWS

Govt extends Eway bill validity to April 30 #FinanceIndia #StockMarketNEWS
Govt extends E-way bill validity to April 30 New Delhi, Apr 4 (KNN) The government has extended the validity of e-way bills that were set expired between March 20-April 15 to April 30.

“Where an e-way bill has been generated and its period of validity expires during the period 20th day of March, 2020 to 15th day of April, 2020, the validity period of such e-way bill shall be deemed to have been extended till the 30th day of April, 2020,” the finance ministry said in a notification issued late evening on Friday.

In a move that will ease the working capital requirements for businesses, the Finance Ministry has deferred the application of restricted 10 per cent input tax credit under goods and services tax (GST) giving relief to the industry dealing with supply and cash flow issues amid the coronavirus (Covid-19) induced lockdown.

E-Way Bill is the short form of Electronic Way Bill. It is a unique document/bill, which is electronically generated for the specific consignment/movement of goods from one place to another, either inter-state or intra-state and of value more than INR 50,000, required under the current GST regime.

According to e-way bill rules, every registered supplier requires prior online registration on the e-way bill portal for the movement of these goods. The rules also specify that the permits for convention cargo (other than over-dimensional carve) are valid for one day for the movement of goods for 100 km, and in the same proportion for following days.

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