The e-Way bill system is running successfully and without any problems. It is also being upgraded with time. It has come to light that two new functionalities have been added in the official GST portal. These include the facility to change return frequency for the normal taxpayer and the payment of reduced penalty.
The choice of changing the option of tax filing to monthly has been provided to taxpayers whose turnover is above Rs 1.5 crore. It extends to those who have wrongly selected the option for quarterly filing. This option can be exercised provided the taxpayer has not filed any return as per the wrongly selected quarterly option of filing return.
Furthermore, the GST Portal will also reduce the penalty in case Demand ID is created under section 74 of the Central Goods and Services Tax Act. If the user is making the payment within 30 days from the date of communication of the order and he/she is paying the tax and interest amount in full, then he/she will see a message on the portal informing him/her about the reduction in the amount of the penalty that was mentioned in the order. Generally, in such circumstances, 50% of the fined amount will be waived off.
Two crore e Way Bills have already been generated in May
The GST department has announced that more than 2 crore electronic Way bills have already been generated in the month of May itself. There is still more than a week left for this month to end. A total of 2,09,62,729 electronic Way bills have been generated in the portal with 12,68,332 bills being generated on the 21st of May.
The Bill, which can be generated on the e-Way Bill Portal, is an electronic bill that is required for the transportation of goods in our country. Whether you are transporting goods from one state to another or within the same state, it is mandatory to generate it provided that the value of the shipment is more than Rs 50,000.
It has become mandatory to generate the Bill since 1st of April 2018 for inter-state transportation of goods. The intra-state e Way bill is being rolled out in a planned manner in phases.