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Unlock 1.0 effect: E-way bill rise, confirm resumption of economic activities

Economic activities see resumption at The end of May. This can be assured as e-way bill generation touched 11.4 lakh per day in the last week of the month, taking the daily average for the whole month to 8.2 lakh, which is nearly thrice the figure generated in April.E-way bills are essential for GST-registered businesses to transport cargo if it exceeds Rs 50,000 in value. A government portal is responsible to issue these receipts once relevant information about the cargo, sender, recipient and vehicle for transport etc. is provided.In the three first three weeks of May, the daily generation was 9.4 lakh, 8.2 lakh and 6 lakh, respectively.

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E-way bill generation maps the cargo movement under the GST and has been rising every week in May since the complete lockdown was relaxed on May 4. However, the data for the whole month are still only half of February. In the last full month before lockdown 19.2 lakh of such bills were generated on a daily basis.

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After June 1, when the lockdown was further eased, more businesses resumed giving a boost to e-way bill generation.

“Due to the apparent impact of the lockdown, tons of stock wasn’t ready to reach the buyer market and therefore the upcoming weeks post lockdown could see heavy write-off of perishable stock in books, clearance of old inventory at reduced prices also as struggle to bridge the demand-supply gap with following repercussions on GST collections on business resuming post June 8,” Jigar Doshi, founding partner at TMSL, said.

 

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