Patna: The Confederation of All India Traders (CAIT) will organise a programme on Friday to brief stakeholders - such as accountants, taxation lawyers and traders - about nuances of the e-way bill system that starts from February 1.

Under the system, which is being seen as a corollary to the goods and services tax (GST) regime, manufacturers and traders who send goods from one place to another will have to generate an e-way bill if the transported goods are worth more than Rs 50,000.

If any manufacturer or trader transports goods worth more than Rs 50,000, there is a provision of fine. In case the goods are carried without an e-way bill but the trader has the necessary bill for sale/purchase, then the supplier has to pay a fine equivalent to the tax imposed on the goods. In case neither the e-way bill nor the sale/purchase bill is found, a fine equivalent to the value of the goods will have to be paid.

A website (http://www.ewaybill.nic.inwww.ewaybill.nic.in) has been created for generation of e-way bill, which is a free service.

Officials responsible for implementation of GST will be entitled to keep tabs on the goods being transported and find out whether the e-way bill norm is being followed.

"We hope around 300 representatives from different fields will participate in Friday's programme," said businessman Ramesh Gandhi, a CAIT member and the brain behind the event.

Gandhi said CAIT national president V.C. Bhartia, national secretary-general Praveen Kandelwal, and CAIT representatives from Bengal and Uttar Pradesh will take part in the event at the Bihar Chamber of Commerce and Industries.

"I think the programme will be very fruitful for traders and other stakeholders," said Mashendra Kumar Mashi, chairman of the Patna branch of the Institute of Chartered Accountants of India.