Although GSTN has not given any
reason for the record rise, it could be attributed to multiple factors
including improvement in consumption as well as compliance. Although there is no straight co-relation between e-way bill
generation and GST collection, the former could have some positive impact on
collection. Tax collected for goods consumed and services availed in July will
be known on September 1, when the government releases monthly data.
This is the fifth time since
the introduction of the e-way bill in 2018 and third successive time in the
current fiscal when generation has crossed 10 crores in a month.
An e-way bill is an electronic
document generated on a portal, evidencing the movement of goods. It also
indicates whether tax has been paid for the moving goods. As per Rule 138 of the CGST Rules, 2017, every registered person
involved in the movement of goods (which may not necessarily be on account of
supply) of consignment value of more than ₹50,000 (can be lower for intra-state
movement) is required to generate an e-way bill. Now all eyes will be on collection in August. Rajat Bose, Partner,
Shardul Amarchand Mangaldas & Co, said that given the buoyancy in GST
collections due to increased compliances particularly generation of e-way bills
and e-invoices, GST collections are likely to settle at an elevated level with
a more robust economic recovery in the coming months. “However, it is to be kept in mind, that the intra-State e-way bills
resulting in CGST plus SGST revenue will be more relevant from the GST revenue
point of view as IGST will largely be utilised as input tax credit in B2B
supplies,” he cautioned.