Updates to E-Way Bill and E-Invoice Systems
Effective 1st January 2025, some important updates will roll out for the E-Way Bill (EWB) and E-Invoice systems. Here’s what you need to know in simple terms:
Multi-Factor Authentication (MFA)
1. What’s MFA?
MFA means logging in with an extra layer of security. Apart from your username and password, you’ll also need to enter an OTP (sent to your registered mobile number or app like Sandes).
Who needs MFA?
• Right now, it’s already mandatory for businesses with an Annual Aggregate Turnover (AATO) above 100 Crores.
• For businesses with AATO above 20 Crores, MFA is optional until 31st December 2024.
New Rules from 2025:
• 1st Jan 2025: MFA becomes mandatory for businesses with AATO above 20 Crores.
• 1st Feb 2025: It applies to businesses with AATO above 5 Crores.
• 1st April 2025: It becomes mandatory for all taxpayers and users.
What to do?
Make sure you activate MFA now to avoid any last-minute issues. Check your registered mobile number on the GST portal and update it if needed.
2. E-Way Bill (EWB) Generation Restrictions
New Rule for Old Documents:
Starting 1st Jan 2025, you can only generate an EWB for documents that are less than 180 days old.
Example: If your document is dated 5th July 2024 or earlier, you won’t be able to generate an EWB for it after 1st January 2025.
3. Extension of EWB Validity
What’s changing?
You can only extend an EWB for up to 360 days from its original date of generation.
Example: An EWB generated on 1st Jan 2025 can only be extended until 25th Dec 2025, not beyond that.
What Should You Do?
(a) Enable MFA Now: It’s simple, and it ensures your login is secure.
(b) Plan Ahead: Don’t delay EWB generation; ensure documents are up-to-date and within 180 days.
(c) Monitor Validity: Keep track of EWB expiry dates to avoid issues with extensions.
For more details and to read the entire advisory, click on the following link:
https://www.gst.gov.in/newsandupdates/read/561 .
Disclaimer: This material and the information contained herein is intended for clients and other Chartered Accountants to provide updates and is not an exhaustive treatment of such subject. We are not, by means of this material, rendering any professional advice or services. It should not be relied upon as the sole basis for any decision which may affect you or your business.
