Moneycontrol PRO
HomeElectionsLok Sabha ElectionLok Sabha elections: GST e-way bills analytics to be tracked real time, says EC

Lok Sabha elections: GST e-way bills analytics to be tracked real time, says EC

There is an unusual spike in demand for some goods and services, the Election Commission said while announcing poll dates.

March 16, 2024 / 16:45 IST
E-way bills are required for inter-state transportation of goods valued over Rs 50,000.

The government is tracking the Goods and Services Tax GST e-way bills analytics real time due to an unusual spike in demand for some goods and services, the Election Commission of India said on March 16.

“GST e-way bills analytics will be tracked real time to track unusual spikes seen in the demand for some goods and services,” the Chief Election Commissioner Rajiv Kumar said in the press conference.

Under the goods and services tax (GST) regime, e-way bills are required for inter-state transportation of goods valued over Rs 50,000.

Businesses with turnover above Rs 5 crore are now supposed to generate e-way bills including e-invoice details for all B2B transactions from March 1, 2024.

“Real-time GST e-way bill analytics offers a powerful tool for monitoring demand spikes in goods, aiding in compliance, and providing insights for supply chain optimisation. By analysing these electronic documents, authorities and businesses can detect market trends, ensure tax compliance, and make informed decisions. However, balancing the benefits with data privacy and regulatory considerations is essential to maximise its effectiveness without overburdening businesses,” Rajat Mohan, Executive Director, tax consultancy firm MOORE Singhi, told Moneycontrol.

Meghna Mittal
Meghna Mittal MEGHNA MITTAL is Deputy News Editor at Moneycontrol. Meghna has experience across television, print, online and wire media. She has been covering the Indian economy, monetary and fiscal policies, Finance and Trade ministries. She tweets at @Meghnamittal23 Contact: meghna.mittal@nw18.com
first published: Mar 16, 2024 04:23 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347