File GST returns Or No e-way Bill

Posted by admin 14/02/2019 0 Comment(s)

Business not filing GST returns for 6 successive months will be prohibited from initiating electronic way bills for intra-state movement of goods.

An official said, the Goods and Services Tax Network (GSTN) will soon acquire an IT system to identify businesses not filing GST returns for two successive cycles.

An official told PTI that “as soon as the new IT system is put in place, the new rules will be notified”. The officials believe, that the move would help restraint Goods and Services Tax (GST) evasion.

The E-way bill system was introduced as an anti-evasion measure in April 2018, for inter and intra-state movement of goods worth over Rs. 50,000. All taxable persons must get GST number registration to initiate movement of goods of shipment worth Rs.50,000 and more as the GST Common Portal generates a GST eWay Bill.

Registered and unregistered transporters of goods worth Rs 50,000 and more are required to exhibit an e-way bill in the course of transit to a GST inspector. Transporters moving goods by road, air, rail, etc. as well need to generate an e-Way Bill if the provider did not generate an e-Way Bill.

Officials feel that to bolster revenue and foster compliance, rigorous anti-evasion actions have to be introduced. Consequently, the revenue department is driving towards incorporating the e-way bill system in conjunction with NHAI's FASTag process to track all movements of goods.

The investigative officers have come to notice that a number of transporters are generating a single e-way bill for multiple trips. Integrating the e-way bill with FASTag would help track the location of the vehicle, including the time and how often it has passed through the NHAI's toll plazas.

GSTN develops a system to fetch e-way bill data into monthly sales returns to curb evasion.

Businesses and Transporters supplying goods net worth more than Rs 50,000 will have the opportunity to include e-way bills details whilst filing the closing monthly sales return under GSTR-1. The move is aimed at curbing tax evasion by registering dissimilar sets of supplies data.

Tallying of e-way bills invoices with the sales presented in GSTR-1 will assist taxmen in evaluating the accuracy of sales return and GST paid, tax experts said.

At the time an e-way bill is generated all the specifics presented by the taxpayer on the e-way Bill Portal. This information will now be transferred to the GST portal avoiding double data entry by taxpayers, GSTN said.

For certain businesses, GST registration is mandatory. If the entity continues business without GST number registration, heavy penalties will apply as it is an offense under GST. GST registration takes just 2-6 working days. Businesses can apply for GST online by furnishing business details and scanned documents.

Documents Required for GST Registration

  • PAN of the Applicant
  • Aadhaar card
  • Proof of business registration or Incorporation certificate
  • Identity and Address proof of Promoters/Director with Photographs
  • Address proof of the place of business
  • Bank Account statement/Cancelled cheque
  • Digital Signature
  • Letter of Authorization/Board Resolution for Authorized Signatory

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