Significant rise in e-way bills generated in July 2021

The e-way bill generation for goods transportation under the Goods and Services Tax (GST) has improved pace in July 2021, indicating a gradual pick-up in economic recovery. The taxpayers have generated more than 4.96 crore e-way bills between 1st July 2021 and 25th July 2021. The higher e-way bills generation will increase GST revenue.

The average daily e-way bill generation was as follows:

  • Average in first 11 days of July 2021: 19.24 lakh
  • Average in 2nd week of July 2021: 20.40 lakh
  • Average in 3rd week of July 2021: 20.20 lakh

Also, the average daily e-way bill generation stood at 19.83 lakh in the first 25 days of July 2021, which is 8.8% higher than the average for June 2021 and 54% higher than May 2021.

After remaining above the Rs.1 lakh crore mark for eight months in a row, GST collections were reduced to Rs.92,849 crore in June 2021 (collected for May 2021 transactions), reflecting the fall in the economy due to state-wide lockdowns.

e-Way bill generation by businesses rose to 5.5 crores in June from 3.99 crores in May as there is a reduction in COVID-19 case numbers and easing of the lockdowns, indicating a recovery of trade and business. Also, around 5.9 crore e-way bills were generated by taxpayers in April 2021.

The progress in vaccination drive and reduction of cases in the COVID-19 second wave increased the business activity of July 2021. The robust steps taken towards curb evasion increased compliance, and a shift of business away from the informal sector in recent months helped increase the GST revenue.

For any clarifications/feedback on the topic, please contact the writer at dvsr.anjaneyulu@cleartax.in

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