The article is about the new e-way bill rules in India, which were supposed to come into effect from March 1, 2024. According to the rules, businesses with turnover above Rs 5 crore would not be able to generate e-way bill without including e-invoice details for all B2B and export transactions. This was done to avoid discrepancies and mismatches between the e-way bills and e-invoices. However, the decision was withdrawn by the National Informatic Centre (NIC) on January 10, 2024, after considering the operational disruption and confusion it may cause among taxpayers.
Here is a summary of the article:
The NIC released an advisory on January 5, 2024, issuing new e-way bill rules for e-invoicing applicable businesses.
The new rules would require businesses with turnover above Rs 5 crore to include e-invoice details, such as the Invoice Registration Number (IRN), for generating e-way bill for B2B and export transactions.
The new rules would not apply to B2C and non-GST or exempt supplies, which could continue with direct e-way bill generation.
The new rules would also introduce some checks in e-way bill generation to identify mismatches between the e-way bills and e-invoices.
The new rules were supposed to come into effect from March 1, 2024, but they were withdrawn by the NIC on January 10, 2024, due to the feedback from the stakeholders and the potential challenges in implementation.
