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Informist, Thursday, Dec. 12, 2024

 

NEW DELHI – The number of e-way bills generated in November fell to a five-month low of 101.80 million from an all-time high of 117.25 million in October, according to data from the Goods and Services Tax Network. Despite the moderation, November was the seventh consecutive month when the number of e-way bills generated crossed the 100-million mark.

 

On a year-on-year basis, the number of e-way bills generated rose 16.3%, the slowest pace of growth in three months. 

 

An e-way bill is a GST document for transport of goods worth more than INR 50,000 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. E-way bill generation had hit a record high in October as economic activity picked up during the festival season.

 

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 8.5% on year to INR 1.82 trillion in November.  End

 

Reported by Shubham Rana

Edited by Akul Nishant Akhoury

 

 

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