The highest number of 11.81 crore e-way bills were released in January. Combat and Services Tax Network (GSTN) according to the portal In January, the e-way bill increased by 23.1 percent on an annual basis. The e-way bill or electronic permit is for the movement of goods in a state or two states for trade.
Earlier in October last year, the highest e-way bill was 11.7 crore due to festive weather. In December, the e-way bill reached the second highest level 11.2 crore. The e-way bills are mandatory for the movement of goods worth Rs 50,000 or more. Hence these bills are initial indicators of demand and supply in the economy. This often appears with slightly unstable in comprehensive economic indicators.
The impact of the creation of the e-way bill of January is expected to appear in the February GST collection. This figure of GST collection will be released on 1 March. The increasing number of e-way bills shows that there was more movement of goods.
The performance of the e-way bill also matches the manufacturing PMI of HSBC India. It jumped in January to reach a 6 -month high while in December was at a 12 -month low.