The issuance of the daily electronic road bill for the transportation of goods under the Goods and Services Tax (GST) system came at 21.14 thousand lakhs for the week ending October 17, 12.6% lower than the daily average of the previous week, reflecting a decrease in dispatches due to Dussehra holidays.
However, the daily average for the first 17 days of October at 21.74 lakh is still 2.4% higher than the same level in the first 19 days of September.
“The dispatches were more for the week ending October 10, considering the Dussehra holiday in the week ending October 17. With dispatches now being sent before Diwali on November 4, I expect the October e-billing to be the highest monthly in a generation in 2021,” the secretary said Subscriber to Transport Workers’ Welfare Association of India (AITWA) Abhishek Gupta for FE.
Daily electronic invoice generation was at 24.2K for the week ending October 10, up 17.65% from the daily average for the week ending September 12. Between 1 and 17 October, up to Rs 3.7 crore bills were generated in the electronic manner.
Thanks to the facilitation of closings, e-billing by businesses increased to Rs 6.79 crore in September from Rs 6.59 crore in August and from Rs 6.42 crore in July. It was Rs 7.12 crore for the month of March, before the second wave of Covid-19 hit economic activities.
Higher e-invoice generation is reflected in higher GST revenue. GST collections reached Rs 1.17 crore in September (largely August transactions), up 23% YoY and 4.5% MoM, indicating a continued recovery in trade and commerce.