Govt to penalise traders misusing e-way bill to evade taxes

Traders misusing the e-way bill system for evading tax payment may now have a reason to worry.A senior official from the Ministry of Finance told ANI on the condition of anonymity that the Goods and Services Tax Network (GSTN) has detected a number of traders who are regularly cancelling e-way bills just four hours after being generated.As per the top official, around 15 lakh e-way bills are being generated on a daily basis, however, nearly one lakh e-way bills out of these are being regularly cancelled.In the wake of the discrepancy, the official said the National Informatics Centre (NIC) and GSTN have been pressed into action to probe the loopholes in the system."We had found that many traders are purposely canceling e-way bills. These cancellations are being done within four hours of e-way bill generation. Cases have also been found wherein 99 out of 100 e-way bills are cancelled on a single GSTN number. Subsequent investigation showed that most e-way bills being canceled are ...