BackE-way bills pick up further pace in third week of June
Improving e-way bills indicates better functioning of the supply chain as economic activity heads towards normalcy
PremiumGeneration of electronic permits for goods movement, or e-way bills, picked up further momentum in the third week of June, indicating that economic activity was on the rise in line with the lifting of regional restrictions on mobility.
Improving e-way bills indicates better functioning of the supply chain as economic activity heads towards normalcy.
Daily average e-way bill generation moved up from 1.61 million seen in the first fortnight of June to 1.68 million as on 20 June, official data from GSTN, the company that processes tax returns, showed. This is in contrast with the daily average of 1.28 million seen in May. Over 33.7 million e-way bills were raised in June in the first 20 days.
Since taxes are paid a month after the sales, the uptick in e-way bills in June is expected to result in better GST receipts in July.
That, however, would be after a further likely month-on month moderation in taxes being collected June in line with the drop in e-way bill generation seen in May. Central and state governments collected ₹1.02 trillion in May after a record ₹1.41 trillion in April. GST receipts are a function of both consumption and prices and rising retail price inflation is expected to have an impact on GST receipts.
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