After falling to a one-year low in May, electronic way (e-way) bill generation under the goods and services tax (GST) regime gathered momentum in June, signalling a pickup in the pace of economic activity after the second wave of the coronavirus pandemic.
E-way bills in the first 20 days of June rose to 3.28 crore, a rise of 34.4 per cent from 2.45 crore in the corresponding period of May, an indication that GST collections might improve for July (for sales in June) from the levels which are likely to be lower in June (for sales in May).
In value terms, e-way bills generated in the first 20 days were worth Rs 10.58 lakh crore in June as against Rs 8.79 lakh crore worth of e-way bills in the first 20 days of May, government data showed.
E-way bill generation stood at 6.72 crore in March, 5.73 crore in April and then declined sharply to 3.95 crore in May, reflecting the impact of the second wave of the pandemic.
It got reflected in the record GST collection in April (for sales in March) at Rs 1.41 lakh crore.
GST collections in May (for sales in April) had shown muted impact of the localised lockdowns in various states by topping Rs 1 lakh crore for the eighth month in a row, but the sequential dip in May is expected to show up in June GST collections.
In fiscal 2020-21, 61.68 crore e-way bills were generated, while for 2019-20, 62.88 crore e-way bills were generated.
The average generation of daily e-way bills improved in the second fortnight of June, at over 16.88 lakh from 12.22 lakh in the corresponding period of May showing a pickup in the goods movement across the country.
Under the indirect tax regime, e-way bills are mandatory for inter-state transportation of goods valued over Rs 50,000 from April 2018, with exemption to precious items such as gold. About 180 crore e-way bills were generated in the three years till March 2021.
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