Economics · Economy
What is the primary purpose of the E-Way Bill system introduced under the Goods and Services Tax (GST) framework?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To establish a joint forum responsible for finalizing tax rates, exemptions, and thresholds across the country
- 2To function as an electronic mechanism for tracking the movement of goods and preventing tax evasion during transportation✓
- 3To compensate state governments for any revenue losses experienced during the initial years of GST implementation
- 4To provide a simplified compliance mechanism allowing small businesses to pay a fixed percentage of their turnover as tax
Correct answer
To function as an electronic mechanism for tracking the movement of goods and preventing tax evasion during transportation
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