Mumbai: The volume of issuance of e-way bills or approvals in electronic form by business houses for movement of goods within the state or from one state to another reached a two-year high in December 2024.
According to the data of the Goods and Services Tax Network (GSTN) portal, the number of e-way bills has increased to 11.20 crore in this month of 2024 as compared to December 2023.
The number of e-way bills in November 2024 was at a five-month low of 10.18 crore.
The condition of the country’s economy can be estimated from the amount of e-way bill. E-way bill is required for consignments above Rs 50,000.
The higher number of e-way bills in December will be reflected in the GST collection data for January to be released on February 1. Increase in the number of e-way bills means increase in movement of goods in the country.
Due to increased movement of goods due to the festive season, the number of e-way bills increased to 11.72 crore in October.
Sources in an accounting firm said that apart from October, the high number of e-way bills in December also indicates increase in consumption in the country.
He said that due to this, GST collection is likely to be higher in January also. However, the December manufacturing PMI fell to a 12-month low.
Comments are closed.