The daily e-way bill generation at 21.72 lakh in the first 12 days of December indicates demand pick-up and stocking by traders ahead of year-end vacations.
Reflecting a recovery in commercial transactions, daily e-way bill generation under the Goods and Services Tax (GST) system came in at 22.28 lakh for the week ended December 12, 5.6% higher than the daily average for the first five days of this month.
The daily e-way generation was 20.38 lakh in November, down 14% on month. The daily e-way bill generation at 21.72 lakh in the first 12 days of December indicates demand pick-up and stocking by traders ahead of year-end vacations.
E-way bill generation was registering a steady rise since June 2021 after falling to below 4 crore in May when the second wave of the Covid-19 pandemic was at its peak. October e-way bills were at a record 7.35 crore, the highest monthly data since the indirect tax regime was rolled out in July 2017, reflecting an upswing in economic activities in the festival season and improved compliance.
E-way bill generation came in at 6.12 crore for November, the lowest in five months, reflecting moderation in goods dispatches post-festivities. E-way bill generation by businesses rose to 6.79 crore for September from 6.59 crore in August, 6.42 crore in July and 5.47 crore in June.
Higher e-way bills generation is reflected in higher GST revenues. Gross goods and services tax (GST) collections came in at Rs 1,31,526 crore in November (October sales) 2021, the second-highest mop-up in the history of the comprehensive indirect tax that was launched in July 2017.
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