How does AlignBooks accounting software define e-Way bill?
e-Way Bill is known to be as an electronic way bill which is required for movement of goods from one place to another. It can be generated on the e-Way Bill Portal. A registered person cannot transfer goods of more than 50,000 (Single Invoice/bill/delivery challan) in a vehicle without having a certified eWay bill for that transfer.
Conveniently, an e-Way bill can also be generated through SMS, android app or by site-to-site integration. You can also cancel an e-Way bill through the above-mentioned methods.
Every time an e-Way bill is generated, a unique e-Way bill number (EBN) is provided which can be used by the supplier or the transporter for the transfer of goods.
In what terms an e-Way bill should be issued?
An e-Way bill can only be generated if there is a transfer of goods in a vehicle/ conveyance which is of value more than Rs. 50,000 and it is-
- For ‘supply’ of goods
- For return of supply
- For an inward ‘supply’ from an unregistered person
Who is liable to generate an e-Way bill?
According to the research of AlignBooks business accounting software following people are liable to generate an e-Way Bill-
- Registered Person – An e-Way bill can be generated only from or to a registered person when there is a supply of goods from one place to another in a vehicle and the value of goods in more than Rs. 50,000. However, a registered person can carry an e-Way bill with them for the goods in value less than Rs. 50,000 as well depending on their wish.
- Unregistered Person – e-Way bill has to be generated by unregistered persons also but when the supply of goods is conducted by an unregistered person to a registered person, it is the duty of the registered person to take care of all formalities as if they are the supplier of the goods.
- Transporter – Transporters also needs to generate e-Way bills whether they are taking the goods from any form of transport be it by road, air, rail, etc. and if the generation of e-Way bill is not made by the supplier.
Documents needed to generate e-Way Bill
- Invoice/ Bill of Supply/ Challan as per the consignment of goods
- Transfer of goods by road – Transporter IDor Vehicle number
- Transfer of goods by rail, air, or ship – Transporter ID, Transport document number, and date on the document
eWay Bill Validity
The validity of e-Way bills is for different periods depending upon the distance travelled by the transport filled with goods.
If it is Other than Over dimensional cargo and the distance travel led is less than 100 kms than validity would be 1 day and if the conveyance is Over dimensional cargo and the distance is less than 20 kms then also the validity will be of 1 day. Although the validity of e-Way bill can be extended either before 4 hours of its expiry or within 4 hours after its expiry.
AlignBooks online accounting software advice’s you to understand the concept of e-Way bill correctly in order to make use of it in your business and avoid any chances of mistakes and losses. AlignBooks small business accounting software cares about your hard work and the worth of your business more than you.