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GST: A new advisory by GSTN alerted taxpayers about changes being made with E-Way Bill generation time limits which is now reduced to 180 days from the date of the base document. “For instance, documents dated earlier than July 5, 2024, will not be eligible for e-waybill generation starting January 1, 2025.”
The Goods and Services Tax Network (GSTN) has announced the implementation of three important changes to the GST portal, which affect the business of buyers, sellers and transporters equally. All of these changes are effective from January 1, 2025. Two of the changes are in respect to time limits for generation and extension of validity of E-Way Bill and one of them is about secured access to the GST portal.
Experts say that the e-waybill related changes have become important steps in GST filing because if this is not followed both the buyers and sellers and transporters will lose out. The buyer will be impacted by loss of input tax credit and disruption in business activity due to non-delivery of goods without a valid e-waybill. The seller will face a loss as the GST department will seize the goods without a valid e-waybill as per the new rules. The transporter will lose, because along with the goods the GST department will seize the vehicle of the transporter also.
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