The e-way (electronic way) bill system under GST (Goods and Services Tax) for inter-state movement of goods has come into force from today i.e. April 1. The e-way bill is the document that every trader and transporter has to generate online to transport goods worth over Rs. 50,000 across states. The bill, introduced under GST is aimed at curbing tax evasion by traders and transporters. However, on day one of the roll-out of e-way bill most trucks were plying across states without e-way bills as traders and transporters booked and released their consignments either on March 30 or 31, ahead of the roll out date.
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The increase in production is to cater to the increased demand because of the festive season and revised GST rates.
The development coincides with the surge in sales fuelled by revised GST rates and festive demands.
India's consumer economy has achieved its highest Navratri sales in over a decade, a surge attributed to the Modi government's NextGen GST reforms, which reduced tax rates and increased product accessibility.
The Yamaha R3 and the MT-03 have received a price cut of Rs 20,000 following the revision in GST rates.
The sales of Suzuki Motorcycle India were supplemented by reduced GST rates and increased demand because of the festive season.
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