Post Date : May 4, 2021
The e-way bills generated within and across states in April 2021 witnessed a drop of 31%, i.e., 4.89 crores from the 7.1 crore bills reported in March.
Intending to limit the spread of the virus, many parts of the nation are under lockdown-like curbs that has had an impact on movement of goods and vehicles including in large state economies such as Delhi, Maharashtra, Uttar Pradesh, and Haryana.
The moderation in e-way bill generation in April reflects the supply chain disruption and the slowdown in consumption as discretionary spending is affected by the pandemic. This would have an impact on GST receipts in May for the sales in April. Containment of the second wave of the pandemic and easing of mobility restrictions will help GST receipts to recover, which will also be aided by the pent-up demand.”~ Abhishek Jain, tax partner at EY
E-way bill generation data for April 2021 compares to the levels seen in July and August 2020, when monthly e-way bills generated remained below five crores and the economy was beginning to come out of the impact of the national lockdown.
The Goods and Services Tax (GST) receipts generation for April are also likely to match with that of the corresponding months, keeping into account the restricted movement and lockdown like curbs across states.
As per the data, the receipts of the central and state governments, which touched a record high of INR 1.41 trillion in April, are likely to dive in May.
GST receipts in 2020 were below INR 1 trillion a month – INR 86,449 crore in August and INR 95,480 crore in September. However, in subsequent months, it stayed above INR 1 trillion, reflecting the economic recovery and a host of efforts by the tax authorities to check tax evasion, including a drive against the use of fake invoices by businesses.