Data Alert
India Oct e-way bill generation up 16.9% on year at 117.25 mln
This story was originally published at 16:15 IST on 7 November 2024
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NEW DELHI – The number of e-way bills generated rose 16.9% year on year to an all-time high of 117.25 million in October, according to data from the Goods and Services Tax Network. This is the sixth consecutive month that the number of e-way bills generated has crossed the 100-million mark. In September, 109.06 million e-way bills were generated.
An e-way bill is a GST document for transport of goods worth more than 50,000 rupees within or outside a state. As such, the number of e-way bills generated is taken as a lead indicator of economic activity and domestic trade. The record high e-way bills generated in October is likely a reflection of the pick-up in economic activity during the festival season last month.
The increase in e-way bills generally suggests GST collections would be robust the following month, as most transactions are reflected in next month's collections. GST collections rose 8.9% on year to INR 1.87 trillion in October. End
Reported by Shubham Rana
Edited by Akul Nishant Akhoury
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