E-Way Bill Threshold
Definition
The consignment value above which an electronic waybill must be generated before goods are moved in India. A central threshold applies to inter-state movement while states set their own intra-state limits and exemptions, so the applicable figure must be checked against the current CBIC notification and the relevant state rule.
Related Terms in India GST
IRN
The Invoice Reference Number, a unique hash returned by the Invoice Registration Portal when an e-invoice is registered, together with a signed QR code. An invoice requiring e-invoicing has no legal validity without a valid IRN.
Form 26AS
An annual tax statement from the Indian Income Tax Department showing tax deducted at source, tax collected at source, advance tax and self-assessment payments credited against a PAN. Reconciling it before filing is what catches credits a deductor has reported incorrectly or not at all.
Annual Information Statement (AIS)
A broader statement than Form 26AS, presenting information the Income Tax Department holds about a taxpayer including interest, dividends, securities and property transactions, with a facility to submit feedback on entries that are wrong.
Advance Tax
Indian income tax paid during the year in instalments rather than at filing, required once estimated liability after credits exceeds a prescribed amount. Instalment due dates and the cumulative percentage payable by each are set in the Income-tax rules, with interest charged for shortfall or deferment.
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