Now Reading: E-way bill generation rises nearly 6% in July to record high
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E-way bill generation rises nearly 6% in July to record high
E-way bill generation rose nearly 6% year-on-year to 139.8 million in July, the second-highest monthly tally on record, though growth slowed sharply from the previous two months. Sequentially, generation rose 2.21% from…
The Story in Brief
E-way bill generation rose nearly 6% year-on-year to 139.8 million in July, the second-highest monthly tally on record, though growth slowed sharply from the previous two months. Sequentially, generation rose 2.21% from 136.8 million in June, marking the fourth straight month above 130 million, according to GSTN data.
Gross GST revenue from imports jumped 28.8% year-on-year to Rs 66,511 crore in July, while domestic GST revenue rose 10.1% to Rs 1.45 lakh crore. Experts say import-linked activity and GST 2.0 compliance are driving the trend, but note e-way bills do not directly translate into tax collections. GSTN has deferred compliance-tightening changes to the e-way bill system.
The Indian Opinion
The pundits want us to read this as proof that the economy is roaring ahead, or as a warning that growth is stalling because the year-on-year rate halved. Both miss the point. A 5.98% rise after months of double-digit growth is not a collapse, and one month's bill count is not a verdict on the economy. Imports are doing the heavy lifting, which says as much about global prices as domestic demand. Watch the next two months of e-way bills alongside GST collections. If bills keep rising but revenue from domestic sales stagnates, the festive-season optimism will look hollow.
Source: livemint.com
This story was synthesised by AI from the source linked above.
